Maxxd.com Forums

Full Version: Trust/Greddy declares bankruptcy
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Trust/Greddy Proper suprised at that.
did you rip this off SN ? i was gonna do the same lol
whoooo!

Bankrupt Stock for sale soon?

Ant Wrote:
did you rip this off SN ? i was gonna do the same lol

Lol close mate got it off SIDC Icon_cheesygrin

they would of only declared bankrutcy to avoid paying massive debts as im sure they would of had loads, and i bet any money that the owners will be starting another company under a new name.
Another company gone bang, oh dear, its not looking good..

I wonder who will be next ?
Yeah Iagree with D,

the american division is still apparently in buisess and the japanese is "re structuring"
It'll just be to write off their debts they've got and will be renamed, with plenty of products still available....I hope.
I dunno, if you read that report they hit the nail on the head..

They just cant compete with the fake chinese knockoff's

They might be able to restructure, but WHATS THE POINT!?

They didnt get in debt cos their products are shit, they got in debt cos people can get similar products for a LOT cheaper

This could also have a knock on effect and shut down many retailers too that sell greddy parts etc..

Bad times!
lol they do this to save money Icon_biggrin

TRUST CO. LTD, JAPAN, FILES FOR MINJI-SAISEI-HOU IN TOKYO
GReddy Performance Products Inc., Parent Company to Undergo Reorganization
Through Japanese Equivalent of U.S. Chapter 11 Filing

September 9th, 2008, Irvine, CA—GReddy Performance Products, a California Corporation, has announced that its parent corporation, TRUST Co. LTD, has filed for Minji-saisei-hou in Tokyo, Japan, the U.S. equivalent of a Chapter 11 reorganization plan. As in the U.S., this filing is a common strategy utilized by companies to allow them to continue to conduct business and service customers while undergoing an internal reorganization process.

This reorganization will have little, if any effect on GReddy Performance Products Inc., USA. GReddy assures its customers that it has ample inventory of all products for the U.S. market, and there are no production delays on new and current product lines coming from Japan. GReddy looks forward to exhibiting at the 2008 SEMA Show in Las Vegas, NV in its 20’ x 40’ booth, and will have three new project vehicles and new 2009 products on display. Representatives from both GReddy USA and TRUST Co. LTD Japan are attending the SEMA Show to answer questions about the reorganization and future plans for the company to retain its dominance in the sport compact market segment for the next 30 years.

Stated GReddy Performance Product’s Kenji Sumino, “TRUST Co. LTD Japan has filed for bank protection in order to restructure. This does not affect GReddy Performance Products USA at this time. In fact, we are working on plans to assist TRUST Co. LTD Japan during this process in every way we can. We have more than adequate inventory to sustain us until TRUST Co. LTD Japan returns to full production capabilities. As more information becomes available, we will release it to the media.”
Reference URL's