American Suzuki files for bankruptcy protection

By: Associated Press Email
By: Associated Press Email

American Suzuki Motor Corp. has filed for Chapter 11 bankruptcy protection and says it will cease selling automobiles in the U.S. as part of a plan to restructure its business.

The company, based in Brea, Calif., is the sole distributor of Suzuki Motor Co. vehicles in the continental U.S.

It said Monday that it will focus on selling Suzuki motorcycles, all-terrain vehicles and marine outboard engines once it exits bankruptcy protection.

The company estimates its debts and liabilities range from at least $100 million to as much as $500 million.

American Suzuki Motor says it decided to exit the car business because of slow sales, unfavorable foreign exchange rates and high costs due to U.S. regulatory requirements.

The bankruptcy and reorganization are unrelated to Japan-based Suzuki Motor Corp.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WNDU - Channel 16 54516 State Road 933 South Bend, IN 46637 Front Desk: 574-284-3000 Newsroom: 574-284-3016 Email: newscenter16@wndu.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 177406541 - wndu.com/a?a=177406541