Trust/Greddy announce bankruptcy
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Slow as Shit
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From: Short Pump
Trust/Greddy announce bankruptcy
http://www.autoblog.com/2008/09/10/j...es-bankruptcy/
The market for aftermarket parts from Japan has been declining for well over five years, due in part to decreased demand both at home and abroad and the rising rates of Chinese knock-offs and other inexpensive (and dubiously built) components.
Today, one of the world's largest performance parts companies, known as Trust in Japan and Greddy here in the States, declared bankruptcy. According to various reports, Trust is approximately $60 million in debt and, after reporting a serious decline in sales since February 2008 and amassing $43 million in loan payments, filed for bankruptcy in Tokyo District Court.
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. There are several firms that will step up to fill the need of enthusiasts, assuming that Trust doesn't try to reorganize, but with the aftermarket industry down overall, we suspect this won't be the last time we'll here about a large tuner going under.
[Sources: GTChannel, JDMInsider]
Today, one of the world's largest performance parts companies, known as Trust in Japan and Greddy here in the States, declared bankruptcy. According to various reports, Trust is approximately $60 million in debt and, after reporting a serious decline in sales since February 2008 and amassing $43 million in loan payments, filed for bankruptcy in Tokyo District Court.
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. There are several firms that will step up to fill the need of enthusiasts, assuming that Trust doesn't try to reorganize, but with the aftermarket industry down overall, we suspect this won't be the last time we'll here about a large tuner going under.
[Sources: GTChannel, JDMInsider]
...quality stuff..
rock ya body baby
Joined: Sep 2005
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From: Fredericksburg
Re: Trust/Greddy announce bankruptcy
And end up buying that same part numerous times because it's a crap part and breaks weeks after installing it. Just spend the money the first time and get a quality part!
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Joined: May 2008
Posts: 1,210
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From: Hampton, VA
Re: Trust/Greddy announce bankruptcy
+1 Or you can just make it and get the satisfaction of sticking it to the man, saving yourself some money, and learning how to do it yourself