Japan’s largest credit research company Teikoku Databank announced that automotive parts manufacturer Trust filed for bankruptcy on September 10th, 2008. Trust also known abroad as Greddy is reported to be approx US$60M in debt.

In February 2008, Trust reported declined annual sales of US$53M. Loan payments totallying US$43M became a burden and was forced to file bankruptcy to the Tokyo District Court.

Trust was founded in 1976 and employs 190 workers producing exhausts, springs, turbo chargers and car electronics. A US subsidiary, Greddy Performance Products was founded in 1994 to expand overseas sales. In 1998 Trust reported annual sales of US$80M but since then sales had been declining.

People have been telling me all morning about this. Taro at GT Channel sent me the details. Ouch is all I can say. On the flip side, there’s plenty more of the pie for everybody else now. Who will take advantage of this? HKS? (probably) Apexi? (possibly) Power Enterprises (maybe) Blitz? (na…). Good luck to Greddy if they plan on restructuring. Greddy is responsible for the growth of the US tuning market in a big way with their CARB legal turbo kits and stuff. (eric hsu)

 

wow thats crazy if its true

 

Its true. Got released a couple days ago.

http://www.autoblog.com/2008/09/10/j...es-bankruptcy/

 

old news. depends what kind of bankruptcy trust declared but the whole economy is hurting.

 

Kinda old news but it is true. That makes their parts collectables? But with no warantee.

 

Is there stuff ultra rare jdm now

 

greddy issued a statement today - trust (japanese parent company) filed for a reorganization bankruptcy so greddy (us division) will continue to do business as normal for now.

 

damn and here i was hoping i could get their TT setup for a "going out of business" price

 

Knew about the Trust part. First I have heard that Greddy US is ok.

 

yup good news - http://www.autoblog.com/2008/09/12/u...ll-good-to-go/

 

LMAO....but they filed for chapter 11 so they are just going to re-calibrate things thats all. they re still going to sema in vegas with new products.

 

Filing for bankruptcy doesn't necessarily mean they're shutting down...