Japanese tuning firm Trust/Greddy declares bankruptcy
09-10-2008, 11:59 PM
#1
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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 hear about a large tuner going under."
http://www.autoblog.com/2008/09/10/j...es-bankruptcy/
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 hear about a large tuner going under."
http://www.autoblog.com/2008/09/10/j...es-bankruptcy/
09-11-2008, 12:58 AM
#14
Originally Posted by Scott8
Originally Posted by STNC
I was gonna post this...well, this sucks, hopefully everything works out
09-11-2008, 12:59 AM
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Originally Posted by Scott8
actually you had your chance....
i told u.
ill have no use for it, system should be just about done in about a month (if i can ever get the other part i need from a certain someone)
09-11-2008, 01:12 AM
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This could actually drive the price down because the retailers and mailorder places that carry their stuff will have no way to honor a warranty or offer upgrades down the road-means maybe I can afford a Supercharger sooner but no warranty fall back.
09-11-2008, 03:11 AM
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Trust/Greddy wont be the last to declare bankruptcy. It happened to BBS and SSR a few years ago, but luckily they got bought by other firms. This will continue if we keep buying cheap knock-offs from Ksport, Megan Racing, Mishimoto, Rotora, etc.
A company that doesnt have a designated R&D department is basically a marketing company selling knock-offs made by somebody else (unless that company is buying their products from reputable manufacturer).
A company that doesnt have a designated R&D department is basically a marketing company selling knock-offs made by somebody else (unless that company is buying their products from reputable manufacturer).