Filed under:
Government/Legal,
Suzuki
Suzuki has won approval for its Chapter 11 plan to stop selling cars in the US and concentrate instead on the company's powersports products. Judge Scott C. Clarkson of the US Bankruptcy Court for the Central District of California approved the plan after the company's creditors agreed to the conditions.
Suzuki will now sell its
motorcycle, ATV and marine divisions to the newly minted Suzuki Motor of America subsidiary under the Suzuki name. The new company will be wholly owned by Suzuki Motor Company. This is the final piece of the company's restructuring puzzle.
The company says it will now be able to grow its powersports businesses here in the US and also provide auto parts and service to current Suzuki owners through what's left of the company's dealer network. You can check out the brief press release on the bankruptcy plan
below.
Continue reading Court approves Suzuki bankruptcy plan
Court approves Suzuki bankruptcy plan originally appeared on
Autoblog on Fri, 05 Apr 2013 09:28:00 EST. Please see our
terms for use of feeds.
Permalink |
Email this |
Comments
More...
Official: Court approves Suzuki bankruptcy plan
