Greddy Files Bankruptcy? Options

[BlackCelicaGT94]

http://www.autoblog.com/2008/09/10/japanes...res-bankruptcy/
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Japanese tuning firm Trust/Greddy declares 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.

[forkee]

like it was said before, car companies are aware that aftermarket parts are in demand so they offer their own performance packages.

also think about supply and demand. greddy parts arent exactly one of a kind. only loyal customers would pay more for a part from them than similar parts for a way cheaper price.

the tuners of today are either loading up their cars with factory warranted dealer parts, buying alternative greddy parts, or buying used greddy parts, all of which do not give greddy a penny.

not to mention the us economy is in a spiraling downward slope. buying greddy is not even in the backs of peoples minds. why pay 4 times as much for fiji water when arrowhead works just as well.

i wont be crying for greddy

in the world of economics, i believe in the invisible hand