Staff Writer - CheersandGears.com
December 6, 2012
A month a after American Suzuki Corporation filled for bankruptcy and announced the closure of its automotive branch, 98% of its dealers (213 dealers) have agreed to a settlement offered by the company.
The settlement would compensate dealers 50% within ten days of the agreement, with the rest following after the bankruptcy proceeding. The settlements also allow former dealers to operate as a service centers to provide warranty and repair services for Suzuki vehicles.
"We greatly value our relationship with our customers, and it is very important to us that they continue to receive the necessary support from ASMC during and after our restructuring. As these agreements demonstrate, we are working within our current U.S. automotive dealer network to help structure a smooth transition from new automobile sales to exclusively parts and service operations," said Freddie Reiss, American Suzuki's chief restructuring officer.
Source: Automotive News (Subscription Required)