Greddy declares bankruptcy....
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From: Mandeville, La
Greddy declares bankruptcy....
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No more greddy!?!?!
Sadly these are the effects of the replica kits and parts. Keep buying knock-offs and soon there will be no original designs to knock off. Buy genuine JDM and save the aftermarket.
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.
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.
Sadly these are the effects of the replica kits and parts. Keep buying knock-offs and soon there will be no original designs to knock off. Buy genuine JDM and save the aftermarket.
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From: Parrish, FL
I'm gonna say it's not the replica/knock offs that caused this, it's simply the market.
however, it sounds like they made some poor financial choices that led to this. They're the first I've heard in a while. HKS seems to be doing just fine, as does blitz and some other companies.
however, it sounds like they made some poor financial choices that led to this. They're the first I've heard in a while. HKS seems to be doing just fine, as does blitz and some other companies.
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From: Irvine
Originally Posted by chimmike,Sep 10 2008, 02:47 PM
I'm gonna say it's not the replica/knock offs that caused this, it's simply the market.
however, it sounds like they made some poor financial choices that led to this. They're the first I've heard in a while. HKS seems to be doing just fine, as does blitz and some other companies.
however, it sounds like they made some poor financial choices that led to this. They're the first I've heard in a while. HKS seems to be doing just fine, as does blitz and some other companies.
Apex'i filed bankruptcy a while back too remember?
SSR too, but bought by Tanabe.
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From: Mandeville, La
Originally Posted by Chris_Lum,Sep 10 2008, 04:08 PM
It's actually Trust that declared bankruptcy, but i hear they will still be around. Greddy is a separate entity.
Everyone in the industry is hurting right now.
Everyone in the industry is hurting right now.
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From: Irvine
Originally Posted by S2krazy2,Sep 10 2008, 05:14 PM
Trust IS Greddy... Trust is the name of the Japanese division... Greddy is the name here in the states. The original article has more info.
