Chrysler Group LLC plans to restart seven assembly plants at the end of June after silencing its factories during its six-week stay in Chapter 11 bankruptcy protection.

The company Wednesday confirmed that factories in Sterling Heights and Warren, Mich.; St. Louis; Toledo; Brampton and Windsor, Ontario; and Toluca, Mexico, would restart operations June 29. A plant in Detroit that makes the Dodge Viper sports car restarted Monday.

In addition, parts stamping, engine and transmission factories that feed those plants also will restart June 29, Chrysler said in a statement.

The eight assembly plants that are restarting employ about 15,000 workers, according to Chrysler’s Web site.

Local funeral home to celebrate opening

The former Micheaux Funeral Home building at 1338 Eliza St. has reopened as Nelson Memorial Gardens Inc. Owner Victor Nelson, a licensed funeral director, invested $250,000 to $300,000 to open the business, which employs 15.

Micheaux Funeral Home served the local black community for more than 70 years until 2002. Nelson wants to honor that legacy while also providing traditional and non-traditional funeral services to people of all ethnic, religious and cultural backgrounds. A non-traditional funeral might include a New Orleans-style service with a jazz band, he said.

Nelson Memorial Gardens is throwing a Community Unity Day celebration from 11 a.m. to 5 p.m. Saturday in the parking lots next to the business.

Eddie Bauer files for bankruptcy

Struggling mall retailer Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection Wednesday but said a bidder already has agreed to keep most of its 371 stores open, honor gift cards and retain most employees.

Eddie Bauer said CCMP Capital Advisors LLC has bid $202 million in cash for its assets. Other buyers may also make bids while the company – which has a store at Jefferson Pointe – is under court protection.

Eddie Bauer had $476.1 million in assets and $426.7 million in debt at the time of the filing with the U.S. Bankruptcy Court of the District of Delaware.

GM: Chapter 11 exit ‘could be sooner’

General Motors CEO Fritz Henderson said Wednesday the company is moving swiftly on restructuring under bankruptcy protection and the watchful eye of the president’s auto task force.

The automaker might be able to exit bankruptcy protection in less than the 60 to 90 days timeline GM gave before its June 1 bankruptcy filing.

“It could be sooner,” said Henderson, speaking to reporters at The National Summit. “We’re moving aggressively according to plan.”

Standard & Poor’s cuts ratings on 18 banks

Credit ratings agency Standard & Poor’s on Wednesday cut ratings on 18 banks, including Wells Fargo & Co., amid concern about further weakening in the financial sector.

S&P said the changes reflected its assessment that volatility will remain in the financial sector and the industry is expected to face tighter regulatory oversight.

S&P also said loan losses, which have plagued the industry for more than a year, are likely to continue to increase and could grow beyond expectations.