Greddy / Trust files for bankruptcy

[bing]

why are you all hating on me… there are other vendors on here that hock more non-greddy than me…

[nitescream]

WOW… talk about poor market research, poor B2B, poor SWOT amoung other things for such a well valued by some company to go under!! They should have lowered prices to get more volume in sales!!

[slipperysilvia]

Do you guys know that greddys operation in north america is bigger then japans and they are not closing their offices over here !! Nothing will change in canada as far as the availability of the products…

[bing]

taken from ZT

@Ziptied

PRESS RELEASE
TRUST CO. LTD, JAPAN, FILES FOR MINJI-SAISEI-HOU IN TOKYO
GReddy Performance Products Inc., Parent Company to Undergo Reorganization Through Japanese Equivalent of U.S. Chapter 11 Filing
September 9th, 2008, Irvine, CA-GReddy Performance Products, a California Corporation, has announced that its parent corporation, TRUST Co. LTD, has filed for Minji-saisei-hou in Tokyo, Japan, the U.S. equivalent of a Chapter 11 reorganization plan. As in the U.S., this filing is a common strategy utilized by companies to allow them to continue to conduct business and service customers while undergoing an internal reorganization process.

This reorganization will have little, if any effect on GReddy Performance Products Inc., USA. GReddy assures its customers that it has ample inventory of all products for the U.S. market, and there are no production delays on new and current product lines coming from Japan. GReddy looks forward to exhibiting at the 2008 SEMA Show in Las Vegas, NV in its 20’ x 40’ booth, and will have three new project vehicles and new 2009 products on display. Representatives from both GReddy USA and TRUST Co. LTD Japan are attending the SEMA Show to answer questions about the reorganization and future plans for the company to retain its dominance in the sport compact market segment for the next 30 years.

Stated GReddy Performance Product’s Kenji Sumino, “TRUST Co. LTD Japan has filed for bank protection in order to restructure. This does not affect GReddy Performance Products USA at this time. In fact, we are working on plans to assist TRUST Co. LTD Japan during this process in every way we can. We have more than adequate inventory to sustain us until TRUST Co. LTD Japan returns to full production capabilities. As more information becomes available, we will release it to the media.”

[Canadian_Idol]

@slipperysilvia

Do you guys know that greddys operation in north america is bigger then japans and they are not closing their offices over here !! Nothing will change in canada as far as the availability of the products…

I was waiting for someone to point that out. A’PEXi did the same thing as did BBS wheels. SSR wheels weren’t so lucky, shutting down operations for a while…fortunately Tanabe brought the brand back to life or it may have closed for good.

When you have brand as strong as GReddy, no one would let it disappear.

But the moral of the story is buy more knock-offs lets drive these companies under for good.