Suzuki Bankrupt in US

[Finished Business]

Looks like Suzuki is does in the US.

Still running in Canada...

http://ca.autoblog.com/2012/11/07/suzuki-motors-remains-in-canada-but-files-for-bankruptcy-in-ame/

 

[seadna]

Note that the car business is going under but the marine, motorcycle/ATV side remains and is now the focus.

 

[Foxsea]

March 1, 2013
American Suzuki Motor Corp. (7269), the U.S. distributor of Suzuki cars and motorcycles, won court approval of its plan to exit bankruptcy court protection.

U.S. Bankruptcy Judge Scott C. Clarkson approved the plan that paves the way for the company to leave bankruptcy by the end of March at a hearing yesterday in Santa Ana, California, the company said today in a statement.

The plan, which implements a sale of motorcycle, all- terrain vehicle and marine businesses to a unit of Suzuki Motor Corp., was overwhelmingly accepted by creditors, the company said.

“Today’s confirmation is a significant milestone and is one of the last remaining steps in our realignment and restructuring process,” American Suzuki Chief Restructuring Officer M. Freddie Reiss said in the statement. “This will promote the long-term growth of the Motorcycles/ATV and Marine divisions, as well as providing automotive parts and service through the dealer network.”
-Bloomberg

 

[sir-vivor]

Chapter 11 in the USA is not "Bankruptcy" as we know it in Canada. It is used by financially insolvent companies to look at potentially restructuring its debt, while keeping the "Wolves" away (Creditors) .
It may end up being Bankruptcy as we know it but , not initially ......Hope you make it Suzuki !!

 

[pescador]

Doubt they'd ever close shop. Its just restructuring of finances and creditor right downs. Much like GM and others.