trust and greedy gone bust! - Drifting forum

smoky joe · 12-09-2008, 17:44

Japanese tuning firm Trust/Greddy declares bankruptcy - Autoblog

s12 silvia · 12-09-2008, 17:50

theres usualy somone waiting to take a company like that over so hopfully all will be well

Dan Goodyer · 12-09-2008, 17:54

sadly the first of a handful no doubt...

DriftLexus · 12-09-2008, 17:56

im sure it will survive.....

jap-si · 12-09-2008, 17:57

if it's anything like apexi it will be back just with a few more d's.

sx-si · 12-09-2008, 18:26

im pretty sure nobody has been able to contact trust in the last week and a half which makes me pretty sure they have gone for good

DriftLexus · 12-09-2008, 19:35

greddy usa are still operating

Car Media · 12-09-2008, 20:16

Strait from the horses mouth

News Release
FOR IMMEDIATE 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.

Good news

junior · 12-09-2008, 20:48

Seemingly HKS have left go 200 from factories in Japan as well ..

12-09-2008, 17:44	#1 (permalink)
smoky joe touge runner Join Date: Jun 2007 Location: devon Posts: 206	trust and greedy gone bust! Japanese tuning firm Trust/Greddy declares bankruptcy - Autoblog

12-09-2008, 20:16	#8 (permalink)
Car Media Doughnut Eater Join Date: Aug 2007 Location: Sunny, Suffolk Posts: 392	NOT going bust but asking for protection whilst re-organising the Business Strait from the horses mouth News Release FOR IMMEDIATE 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. Good news Last edited by Car Media : 12-09-2008 at 20:19. Reason: cleaning up after copy and paste

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12-09-2008, 17:50	#2 (permalink)
s12 silvia dorifto kingu! Join Date: Apr 2007 Location: north wales Posts: 665	theres usualy somone waiting to take a company like that over so hopfully all will be well

12-09-2008, 17:54	#3 (permalink)
Dan Goodyer dorifto kingu! Join Date: Jul 2004 Location: NW Kent Posts: 1,275	sadly the first of a handful no doubt...

12-09-2008, 17:56	#4 (permalink)
DriftLexus BDC Join Date: Feb 2005 Location: Germany....Now! Posts: 3,422	im sure it will survive.....

12-09-2008, 17:57	#5 (permalink)
jap-si TE37 club Join Date: Sep 2005 Location: somerset Posts: 5,383	if it's anything like apexi it will be back just with a few more d's.

12-09-2008, 18:26	#6 (permalink)
sx-si dorifto kingu! Join Date: Jan 2007 Location: www.driftracing.co.uk www.dfdrift.co.uk Posts: 971	im pretty sure nobody has been able to contact trust in the last week and a half which makes me pretty sure they have gone for good

12-09-2008, 19:35	#7 (permalink)
DriftLexus BDC Join Date: Feb 2005 Location: Germany....Now! Posts: 3,422	greddy usa are still operating

12-09-2008, 20:48	#9 (permalink)
junior dorifto kingu! Join Date: Jul 2004 Posts: 927	Seemingly HKS have left go 200 from factories in Japan as well ..