Wednesday, May 20, 2009

Uh Oh - Trust Declares Bankruptcy


It was just a rumour yesterday, but now it’s official: Japanese parts manufacturer Trust has filed for bankruptcy after declining sales revenue pushed the company some $60 million USD into debt.

Despite being one of the tuning world’s best-known tuning parts companies, Trust never quite managed to sell enough products to cover its expenses and by the time it filed for bankruptcy at the Tokyo District Court it had racked up a hefty debt that included around $43 million USD in loan repayments.

The future for Trust - and by extension Greddy, which is owned by Trust - is not known, however don’t count on Trust-branded parts disappearing from your local performance shop just yet. Apexi went through similar bankruptcy-related issues just a few years ago, but a management buy-out allowed the company to continue trading under the name Apexera. Then again that wasn’t the end of Apexi’s troubles, as they were forced to file for bankruptcy a second time soon after.

Still, Apexi USA is still going (relatively) strong, and it’s likely that both Trust and Greddy products will continue to be on sale in the far more profitable US market for some time to come. We’ll keep you posted on any further developments.

[GT Channel]

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