Japanese tuning firm Trust/Greddy declares bankruptcy

[Guest]

http://www.autoblog.com/2008/09/10/japanese-tuning-firm-trust-greddy-declares-bankruptcy/

sad to see this happen, didnt expect that at all

 

[bradc]

SEARCH



lolz

 

[SiliconAngel]

Sheesh Carsten, are you feeling ok? You must be having a bad day man...

 

[Guest]

aww man...
i had heaps of trust/greddy/grex parts on my 33, i'd be rich now!

 

[Guest]

I hope they sell off all there stuff cheap. I had heaps of Trust on my old car too ...
They did wonders for the modified car market. I might go to the funeral and pay my respects.

 

[Guest]

didnt apex/apexi go through the same thing in the last couple of years?

 

[SiliconAngel]

Yes, two years ago.

Trust has only done this because they legally had to - they're in trouble, but it's not unfixable. Once they have an administration company that declares they'll be broken up and sold off to recoup as much for creditors as possible, THAT will be the end... and also the time to grab a bargain!

 

[Guest]

i wonder if they will receive government aid/get bought out like apexi and buddy club?

 

[Guest]

Yes, two years ago.

Trust has only done this because they legally had to - they're in trouble, but it's not unfixable. Once they have an administration company that declares they'll be broken up and sold off to recoup as much for creditors as possible, THAT will be the end... and also the time to grab a bargain!

Where can we get these bargains you talk about?

 

[naughtika]

yeah.. me wants the bargain too

 

[Dr_Josh001]

Feel sorry for em though. I was thinking that might have been Mitsubishi a couple of years ago with all the debt they were in.

 

[SiliconAngel]

Bargains occur in cases of bankrupt companies when administrators sell all liquidatable assets such as land, plant, machinery and remaining stock for whatever they can get for it. Remember they're no longer in the business of making a profit against production costs, they're trying to get as much money together to repay creditors in as short a time-frame as possible. That means either everything will go to auction or everything will be bought by a large auction-house (instant cash for the administrators to start handing out) who then on-sells it. Sometimes it's only auctioned in bulk, meaning it'll trickle into eBay and other places where the public can buy it, but sometimes the auctions are free to all.

Best to keep an ear out, especially if you are considering any Trust / GReddy products - if they are liquidated then you won't get ANY warranty support at all.