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

Cheep stuff soon then:rofl:

Cheep stuff soon then:rofl:

 

:rofl:

:eek: :cry:

The report doesn't actually state whether GReddy (USA) is affected by this declaration of bankruptcy. The two companies (GReddy & Trust) are actually run as separate businesses so it doesn't neccesarily mean that all the products are disappearing. It will be quite likely that Trust is going to reorganize under new management - they did that about two years ago as well and I can remember when APEXi went through this. They too reorganised and have paired down JDM production. However, the US business is still going strong.

 

Just my 2.5p worth ;)

 

Dan