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  #1  
Old 09-11-2008, 08:43 AM
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Trust Japan Files for Bankruptcy

Wow didnt expect this one...

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.
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Old 09-11-2008, 09:10 AM
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And they say the big credit crunch isn't bad?. Everyone is getting kicked in the donga right now.
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Old 09-11-2008, 09:12 AM
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so tuning really IS a fading trend.
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Old 09-11-2008, 09:14 AM
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People can't afford to spend there money like they did in the past, Well not as free willing as they once did.
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Old 09-11-2008, 09:23 AM
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Quote:
Originally Posted by SlickHolden View Post
People can't afford to spend there money like they did in the past, Well not as free willing as they once did.
It's probably because people only buy stuff like GReddy and Apex stickers but not the actual performance parts. The kids opt with cheap knockoffs instead.
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Old 09-11-2008, 09:30 AM
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Trust wasn't one of the major sponsor in the last years of Jordan and Minardi in F1?
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Old 09-11-2008, 09:35 AM
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but it says they never managed to actually sell enough parts to cover its expenses. that canīt have much to do with the current economic situation. if all of them file for bankruptcy as often as camnismo said, that means there isnīt that much demand for those parts in japan to begin with. they should leave this tuning business and get into pr0n or something.
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Old 09-11-2008, 12:54 PM
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Originally Posted by DanWheldon View Post
Trust wasn't one of the major sponsor in the last years of Jordan and Minardi in F1?
I think it was one of Spyker teams sponsors.
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Old 09-11-2008, 01:12 PM
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Quote:
Originally Posted by DanWheldon View Post
Trust wasn't one of the major sponsor in the last years of Jordan and Minardi in F1?
ehm...it was a quite different story
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Old 09-11-2008, 01:50 PM
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Quote:
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Well they "tune" computers...
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Old 09-11-2008, 04:30 PM
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Quote:
Originally Posted by teatako View Post
so tuning really IS a fading trend.
No, tuning is increasing, but cheap chinese knockoffs stop people buying the real apexi/trust/greddy products - loosing them business and money.
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Old 09-12-2008, 01:03 AM
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No, tuning is increasing, but cheap chinese knockoffs stop people buying the real apexi/trust/greddy products - loosing them business and money.
It's not only Chinese products. here I never saw expensive tunning, the majority is home made, and of course of the worst quality. I'm fine with China producing bad and cheap components as far as I'm not obliged to buy them. if people buy those products and then Trust declares bankruptcy, it's not China's fault, but of those who bought those products.
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