GREEDY / Trust Co. LTD., filed for bankruptcy

Japan’s largest credit research company, Teikoku Databank, announced that Japanese automotive performance parts manufacturer, Trust Co. LTD., filed for bankruptcy today.

Founded in Japan in 1977, the Trust company LTD has become a dominant source for automotive performance products around the world. With popular brand names like GReddy, the division that makes Exhaust Systems, Turbo Kits, Cooling systems, Electronics and Accessory lines, GREX, the division that makes both engine hard parts and footwear (suspension, brakes, etc.), and GRacer, the division that produces aerodynamic components the Trust Company offers one of the widest varieties of performance automotive components in the world.

Since 1994 the development and distribution of Trust Company products in the United States has been accomplished by GReddy Performance Products, in Irvine California.

In 1998 Trust reported annual sales of $80 million but since then sales had been declining. By February 2008, Trust’s annual sales had declined drastically to $53 million with loan payments totaling $43 million. Trust is reported to be approximately $60 million in debt.

It’s not immediately clear if Trust Company, Ltd. in Japan will be out of business or be able to restructure. The company employs nearly 200 people.
:sad:
 
Crazy, and I JUST sold my big ass turbo kit from them

crazy

Expected....

Welcome to post 911...
 
The single most thing that has affected the entire world.

Damn knock off companies. :sad:

all these lil knock off companies, plus the mortgage crisis, and add a bad economy and there goes peoples disposable incomes which is mainly spent on aftermarket parts for cars

Damn thats crazy. I also recently sold a turbo kit and some other Greddy/Trust parts.

gotta get an e-manage asap.

you can blame economy and knock offs and all that but me personally... i would never take out 43 mil in loans to build aftermarket car parts. just seems unreasonable to owe almost as much as you make in a year (or even half in a good year) for something that's considered a hobby/luxury.

[quote=BLACKonBLACK98;187439]gotta get an e-manage asap.
 
you can blame economy and knock offs and all that but me personally... i would never take out 43 mil in loans to build aftermarket car parts. just seems unreasonable to owe almost as much as you make in a year (or even half in a good year) for something that's considered a hobby/luxury.[/quote]
 
Check Craigslist most of the time you find young kids that dont like them cause they either dont have the money to install and tune it or they just dont like the E-Manage so they sell them cheap.

damn that's crazy, not surprised though. last i heard (couple days ago via google news), Japans entire economy is doing pretty bad.  :(

wow thats carzy, never thought that would happen

so should we expect a super sale????

wow crazy !!!! getting in to loans can get you at here , i feel sorry for those guys at greddy i know mike from greddy hope they dont loose their jobs !!!

[quote=crazyboi;187709]so should we expect a super sale????[/quote]
 
 
:dance::dance::dance: