Chrysler Dealers Seeking Asset Sale Delay
Tuesday, May 19th, 2009The Chrysler turmoil continues as the Committee of Chrysler affected dealers aim to protest the cancellation of 789 dealer franchise agreements. Apparently a lot of these dealers are seeking the US Bankruptcy Court to delay hearings until the amicable settlement on asset sales has been reached.
“Chrysler’s proposed asset sale and request for immediate termination of dealer franchises will destroy several hundred independent businesses, ruin the livelihoods of their owners, cause the loss of thousands of jobs and precipitate inevitable personal and business bankruptcies flowing from the closing of the affected dealers,”
The move may be a big blow for Chrysler’s transition towards the “New Chrysler” with Fiat/UAW presumably assuming control over the troubled carmakers operations. Then again, this was to be expected as a lot of loose ends are bound to come out from this Chrysler debacle.
(Source) Press
Tags: business bankruptcies, cancellation, Chrysler, chrysler dealers, debacle, Fiat, franchise agreements, franchises, jobs, transition, turmoil, UAW, us bankruptcy court