Chrysler to close 1 in 4 dealerships
42 of the dealerships are in Michigan. As if they haven’t been hit hard enough, more to come for the citizens of MI. 789 total dealerships will be shuttered throughout the United States according to various news outlets.
This is where the Bankruptcy judge comes in. He will be the one to cancel the contracts between the dealerships and Chrysler. Even if you are someone that hates the bailout, surely you must have compassion for the folks that have done nothing wrong yet will bear the brunt of this carnage.
The court document outlining which dealerships are getting the axe can be read or downloaded here (pdf) courtesy of the Detroit Free Press.
These dealers will have until May 26th to file an objection..but seriously..does anyone think they have a snowball’s chance in hell of saving their businesses?