Stellantis Supplier CLN Seeks Advice for Debt Talks Amid Slump
CLN’s troubles show how the struggles of carmakers are trickling down to the supply chain.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
A supplier to Stellantis NV plans to hire advisers to help with more than €400 million ($441 million) of debt as softening demand, inflation and sluggish electric vehicle sales impact the sector.
Italy-based CLN Coils Lamiere Nastri needs to refinance a bond due in November and start negotiations with bank lenders, according to people with knowledge of the matter, who asked not to be named because they aren’t authorized to talk about it. The company is running a beauty contest to select an adviser in the next weeks, they said.