US Suzuki Distributor Skids Into Bankruptcy Amid Low Sales

Law360, New York (November 5, 2012, 9:41 PM EST) -- American Suzuki Motor Corp. filed for Chapter 11 protection Monday, saying it would stop selling new automobiles in the U.S. and blaming low sales volumes and increased federal regulatory control over the American auto industry for its financial decline.

In a Chapter 11 petition filed in California bankruptcy court, the U.S. distributor of Japan-based Suzuki Motor Corp.’s vehicles listed between $100 million and $500 million in assets and liabilities and between 1,000 and 5,000 creditors. It said it planned to refocus its business on its motorcycle,...
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