Takata Corporation, the maker of the deadly, exploding airbags that have killed at least 17 people around the world, will begin the process of seeking bankruptcy protection in its home country as soon as next week, with a Chapter 11 filing in the U.S.
Despite being one of the largest automotive parts suppliers in the world, Takata could not withstand the legal and financial firestorm that arose after the revelation that its airbag inflators, which use ammonium-nitrate gas as a propellant, were causing dozens of injuries worldwide.
A malfunction in the inflators can cause them to rupture even after low-speed crashes.
Takata sold these faulty inflators to the world’s biggest automakers, including Toyota, Volkswagen, General Motors and Honda.
The manufacturer continued to sell its inflators, and automakers continued to make use of them well after the issue found to be endemic, with 2016 model year vehicles being released and put on the growing recall list almost immediately.