Venture Holdings Trust (Fraser, Michigan / USA), parent company of automotive supplier Peguform, has filed for chapter 11 bankruptcy in US district court in Detroit. The move follows insolvency proceedings of Peguform group companies in Europe. According to reports, Venture owner Larry Winget is negotiating with the company’s lenders, including Goldman Sachs High Yield Fund and Eaton Vance High Income Fund, who hold papers worth USD 455m, to release some equity to keep the company afloat. The holding last reported financial results for 2001, when it disclosed USD 1.4 bn in assets and USD 894m in debts.