TRUST (GReddy) Declares Bankruptcy! - UPDATED!
#1
TRUST (GReddy) Declares Bankruptcy! - UPDATED!
http://www.autoblog.com/2008/09/10/j...es-bankruptcy/
$60 mil in debt!
That sucks.
$60 mil in debt!
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.
#7
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.
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.
#8
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!
what a sad day!
#10
Originally Posted by ShaffNasty
How so? they are just a victim of capitalism OR they made really bad business decisions...
#12
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.
Anyone here know Japanese bancrupcy law who can help me out on this?
#15
#17
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!
what a sad day!
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.
#18
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
#19
Good news everyone!
http://www.autoblog.com/2008/09/12/u...ll-good-to-go/
http://www.autoblog.com/2008/09/12/u...ll-good-to-go/
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.
#20
Originally Posted by Mouse
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!
what a sad day!
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.
thank you greddy gods!
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