The Japanese auto parts maker has been struggling to survive after news of its potentially deadly airbags hit the market.

According to a source knowledgeable with the matter at hand, the U.S. unit of Japanese auto parts manufacturer Takata Corp is considering taking protection under Chapter 11, in the U.S.

The Japanese company is currently at the centre of the world’s biggest automotive recall in history after it came to light that its airbag inflators are potentially deadly.

It has retained investment banker Lazard Ltd as an adviser to choose a sponsor for its turnaround.

Categories: Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: Top, Takata, airbags, vehicle recall, automotive parts, manufacturer, maker, filling bankruptcy, chapter 11, United States, U.S. unit of Takata, recall, airbag inflators,