3 of 6
BACKNEXT
Micro-Heat Inc.

After recalling nearly a million vehicles for a fire hazard in August 2008, General Motors turned its back on Micro-Heat Inc., the auto giant's supplier of the allegedly defective HotShot windshield cleaning system.

Two months later, Micro-Heat filed for Chapter 11 bankruptcy protection to allow the company to reorganize. Micro-Heat said GM was its largest customer, accounting for 98% of total sales. In the wake of the recall, GM halted payments it owed for products Micro-Heat delivered in July and August, creating a cash crunch for the small supplier.

Unable to recover from GM's sucker punch, Micro-Heat converted its filing the following month and liquidated all its assets.

NEXT: AP Military Group

Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
LAST UPDATE: Mar 23 2010 | 5:30 AM ET
More Galleries
6 designers shaking up fashion These designers are changing the way we dress, accessorize and shop, from custom made-to-fit dresses to smart jewelry that's actually stylish. More
8 must-have travel apps Whether you've got wanderlust or an airline grievance, here are some apps to pack onto your phone. More
Secrets to success from Smalltown USA Utah State professor Michael Glauser cycled 4,000 miles this summer, visiting 100 entrepreneurs across the country. Here's a snapshot of how they grew their businesses. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.