On November 5, the American Suzuki Motor Corporation chose to file for Chapter 11 bankruptcy protection. The decision to file for bankruptcy means that Suzuki motor vehicles will no longer be sold in the United States. Sales of ATVs and motorcycles will still continue despite the filing.
Over the years, the U.S. branch of Suzuki has acquired approximately $346 million in debt. In 2011, the company was only able to sell 26,619 cars in America. This number was only up slightly from 2010, where the company pushed 23,994 vehicles.
The large reason for this filing is the fact that the company did not focus its products in a specific direction. The cars had no clear approach to a specific target market, and therefore did not relate to any consumer in particular. The Canadian branches of Suzuki are not affected by this filing, and will continue to operate as normal.
If you are considering filing for bankruptcy protection, you need a legal representative on your side who is experienced in this area. Please contact the bankruptcy lawyers of GREENWAY BANKRUPTCY LAW, LLC by calling (205) 324-4000 today.