Tag Archives: Bankruptcy

Mon, Jun 29 2009
Hummer sale to Chinese Tengzhong in jeopardy

Hummer sale to Chinese Tengzhong in jeopardy

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Sichuan Tengzhong Heavy Industrial Machinery, the Chinese firm that has signed a tentative deal with bankrupt General Motors to buy out Hummer, is about to start talks with Chinese regulators to secure... 

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Wed, Jun 10 2009
Chrysler bought by Fiat, comes out of bankruptcy

Chrysler bought by Fiat, comes out of bankruptcy

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The sale of Chrysler LLC to Italian-based Fiat is officially complete. After 42 days of deliberations, Fiat now owns most of Chrysler’s assets and will receive $6.6 billion in “exit financing”... 

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Sat, Jun 6 2009
Saturn sold to Penske, Outlook and Vue saved

Saturn sold to Penske, Outlook and Vue saved

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General Motors and Penske Automotive Group confirmed a deal under which Penske would acquire the Saturn brand. The deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers... 

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Mon, Jun 1 2009
General Motors files for Chapter 11 bankruptcy

General Motors files for Chapter 11 bankruptcy

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General Motors, the world’s largest automaker until recently, has officially filed for bankruptcy. As its fate was known for months, it finally happened as GM filed for Chapter 11 bankruptcy protection... 

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Fri, May 15 2009
General Motors to slash 1100 dealerships

General Motors to slash 1100 dealerships

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General Motors issued a statement saying that, as part of their updated viability plan, they plan to reduce its dealer network from 5,969 stores today to approximately 3,600 by the end of 2010.  ...

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