2013 Audi A3

GReddy USA in safe hands following successful reorganization of Trust in Japan

 
8 2,575 views Mar 12, 2009

GReddy USA’s parent company has successfully emerged from Japan’s equivalent of a Chapter 11 bankruptcy filing

GReddy USA’s parent company has successfully emerged from Japan’s equivalent of a Chapter 11 bankruptcy filing

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Last September Japanese tuning and aftermarket parts firm Trust filed for bankruptcy in its home country, but despite the hairy situation the tuner’s U.S. extension, GReddy Performance Parts (GPP), was able to continue operating unaffected. As in the U.S., bankruptcy in Japan is a business tool of last resort for continuing to do business while restructuring internally, and in the case of Trust the move has proven successful.

The tuner announced today that it has successfully completed the reorganization process (known as Minji-Saisei-Hou in Japan) and is hoping to return to full operations later this year. GPP representative Kenji Sumino said the company’s U.S. division will continue to work hard as it struggles to cope with the downturn in the industry. Sumino also said existing stocks of supplies are expected to last through Trust's recovery, which the American affiliate is helping to facilitate.

GPP was founded in 1994 by Trust as the U.S. distributor for its products. Since then it has built a reputation in the tuner community for strong products and good customer service. Trust was founded in Japan in 1976, and has grown to employ 190 workers. The current financial predicament has come about as a result of a major drop in sales last year and the accumulation of nearly $60 million in debt.



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Comments (8)

  1. By Roman Posted: 9/13/2008 3:33pm PDT

    damn i would of rather they went bankrupt, than there would be just a little less rice rockets on the road
     
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  2. By CK Posted: 9/13/2008 6:59pm PDT

    If I read hate guided comments like this I know why people kill each other because of stupid arguments. Japanese cars are just different so what's your problem? I like german cars which doesn't mean that everybody else builds shit. But it is nice that you think it is good that 190 people lose their so that you don't have to see Greddy tuned cars anymore.
     
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  3. By brad Posted: 9/13/2008 9:04pm PDT

    ahhhhh CK i dont know what the above comment has to with killing people, I think you need to get your head checked out.
     
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  4. By Yul Posted: 9/14/2008 1:47am PDT

    If Roman say that jap cars r ricers, then what should the US b called? The Burgers? Italians, da pizzas? Korean, da kimchier, English, the white teas? Damn ! why do u hav 2 criticize the 1s that dont have the same interest as u ?
     
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  5. By Ken Posted: 9/14/2008 2:20pm PDT

    Holy crap this could really suck. I've just about finished the suspension upgrades on my S2000, and next on the list was the CARB-legal Greddy turbo kit.

    Guess I'll have to call a few installers/retailers and ask them to let me know if they notice any interruption in the supply of the kits.

    BTW, I've never understood the haters. How can a person like cars, but hate those made by companies from a particular geographic region? That's like not wanting to have sex with hot women if they come from another country. Duh...

    I'm always happy to enjoy any flavor of women or automobile from anywhere, anytime. The problem as I see it is not being able to enjoy riding in all of them!
     
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  6. By Ayax Posted: 9/14/2008 10:43pm PDT

    LOL @ Kens comment, but is 100% true... Its sad that people think like that though...
     
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  7. ma_JISG avatar JISG Posted: 3/12/2009 8:23pm PDT

    hahaha Yul
     
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  8. ma_phil12321 avatar phil12321 Posted: 3/13/2009 5:57am PDT

    Jeeze Roman!!! I thought you would like my R33.... but I guess it cooks to much rice are something!!!
     
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