Lear Co. Files for Bankruptcy

The parent company of the Lear Fan aircraft company filed under Chapter 7 of the bankruptcy laws today while the British government appointed a receiver who vowed to try to recoup as much as possible from the British investment in a Lear Fan manufacturing plant in Belfast.

But a spokesman for company director Moya Lear claimed new investors may come in to help complete the approval process for the revolutionary Lear Fan plane. Lear’s spokesman said the bankruptcy papers were filed in Denver, home of Lear Fan’s chairman and chief executive officer, Robert Burch, who was unavailable for comment.