TRUST (GReddy) Declares Bankruptcy! - UPDATED!

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Sep 10, 2008 | 07:45 PM

ack154

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TRUST (GReddy) Declares Bankruptcy! - UPDATED!

http://www.autoblog.com/2008/09/10/j...es-bankruptcy/

$60 mil in debt!

Quote:

Trust has been around since 1976, employs almost 200 workers and had been dealing in everything from CARB-legal exhausts to turbo systems when Greddy Performance Products was founded in the U.S. in 1994.

That sucks.

Sep 10, 2008 | 07:47 PM

Dkfung88

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lol they spelled "hear" wrong in the last sentence

Sep 10, 2008 | 07:48 PM

UNiT_xEr0

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wow yeah this really sucks

Sep 10, 2008 | 07:57 PM

andrewStC

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Nooooo!

Sep 10, 2008 | 08:03 PM

Sciond

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ouch

Sep 10, 2008 | 08:14 PM

TCpete

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you can thank crap knock off companies for this.. megan, ksport, ebay knock offs, and of course all the "tuners" who support the knock off market.

what a sad day!

Sep 10, 2008 | 08:49 PM

CDogbert

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Quote:

Originally Posted by TCpete

you can thank crap knock off companies for this.. megan, ksport, ebay knock offs, and of course all the "tuners" who support the knock off market.

x2

From the comments I'm reading, though, this doesn't mean GReddy US is going to die. It just means Trust (which is Japanese) needs more money.

Sep 10, 2008 | 08:53 PM

ShaffNasty

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Quote:

Originally Posted by TCpete

you can thank crap knock off companies for this.. megan, ksport, ebay knock offs, and of course all the "tuners" who support the knock off market.

what a sad day!

How so? they are just a victim of capitalism OR they made really bad business decisions...

Sep 10, 2008 | 08:56 PM

smilezdc

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... ah damnit... this does suck..

Sep 10, 2008 | 09:00 PM

#10

CDogbert

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Quote:

Originally Posted by ShaffNasty

How so? they are just a victim of capitalism OR they made really bad business decisions...

They are a victim of the masses (see: Fast and the Furious tuners) compromising quality and reliability for price, not just capitalism. It's bad for business, sure, but I like that Trust would rather go bankrupt than go down the compromisingly cheap route like KSport and Megan have.

Sep 10, 2008 | 09:23 PM

#11

Murbyrne

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does this mean I can't get that Greddy evo 2 exhaust I want? I hope they will still be for sale

Sep 10, 2008 | 09:30 PM

#12

vettereddie

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Quote:

Originally Posted by CDogbert

From the comments I'm reading, though, this doesn't mean GReddy US is going to die. It just means Trust (which is Japanese) needs more money.

But Greddy US doesn't manufacture, they only distribute. They still need to get product in from Japan. Still, bancrupcy doesn't mean disallution of the company. They are simply filing for debt protection and will most likely lose some assets, but may not shut down production.

Anyone here know Japanese bancrupcy law who can help me out on this?

Sep 10, 2008 | 10:10 PM

#13

Ace83

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thats not good, they make some good stuff.. hopefully they will be saved.. customer support will be gone, its good i dont have any greddy right now

Sep 10, 2008 | 10:17 PM

#14

jurassic1

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I guess goodbye to (potential development of) CARB-legal turbo kits for the tC and other cars

Sep 10, 2008 | 10:25 PM

#15

Tomas

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Alan, mind if I move this to the news forum?
https://www.scionlife.com/forums/viewforum.php?f=43

Sep 10, 2008 | 10:25 PM

#16

Checho

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Quote:

Originally Posted by Murbyrne

does this mean I can't get that Greddy evo 2 exhaust I want? I hope they will still be for sale

You can buy mine

Sep 10, 2008 | 10:41 PM

#17

Mouse

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Quote:

Originally Posted by TCpete

you can thank crap knock off companies for this.. megan, ksport, ebay knock offs, and of course all the "tuners" who support the knock off market.

what a sad day!

Well you do have a point there....but you might want to do the research before you list certain names. One of those has been in the business since 1985 building nothing but race parts for classes such as NASCAR. And only got into the common market about 15 years ago.
I'm not disagreeing with knock off companies having a bad impact on the reputable manufacturers... that is definately true. You just happened to mention a reputable company in your list that got their start building for NASCAR and you can bet those guys aren't going to take cheap crap parts.

Sep 11, 2008 | 01:08 PM

#18

vettereddie

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Quote:

Originally Posted by Ace83

thats not good, they make some good stuff.. hopefully they will be saved.. customer support will be gone, its good i dont have any greddy right now

When did they ever have customer support. When I was trying to wire up an eManage blue for an 06, they couldn't even tell me what the signal was on each wire. I had to find that from the online documentation for the Mazda turbo kit. Greddy East even told me it wouldn't work because the crank pulley's weren't the same size. A 1NZ-FE is a 1NZ-FE, regardless of year. Greddy West was slightly more helpful.

Sep 12, 2008 | 08:44 PM

#19

ack154

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Good news everyone!

http://www.autoblog.com/2008/09/12/u...ll-good-to-go/

Quote:

According to the release, Trust filed for "Minji-saisei-hou" in Japan, the equivalent of Chapter 11 in the States, that will allow the performance parts manufacturer to continue its business while it reorganizes. That process will have "little, if any effect on GReddy Performance Products" in the U.S. GReddy plans to feature three new project vehicles at SEMA this year, and both Trust and GReddy have adequate inventory and personnel to service customers.

Sep 12, 2008 | 08:50 PM

#20

TCpete

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Quote:

Originally Posted by Mouse

Quote:

Originally Posted by TCpete

you can thank crap knock off companies for this.. megan, ksport, ebay knock offs, and of course all the "tuners" who support the knock off market.

what a sad day!

then i get guess nascar cars must really have crappy parts because almost everything ive seen coming from megan or ksport has been somewhat garbage. but then i guess thats why im not an avid nascar person and prefer road/circuit racing... where turning left is not the only purpose of the car.

thank you greddy gods!