Autobacs U.S.A- Ch.11 Bankruptcy.

Today as I was browsing on Ben Schauffer's blog (Bulletproof Automotive Owner), he posted up news about Autobacs U.S.A filing chapter 11 bankruptcy. Man, this just shows a good example on how business in the U.S. is at a downfall, even for the international companies that expand their business to America, where it is suppose to be "prosperous." First Greddy, now Autobacs. Chapter 11 bankruptcy consists of reorganization, where the company is able to reorganize their business actions, find ways to make profit and improve revenue, and is also mainly controlled by whoever their creditors are....from what I remember in business class. So there is a good chance that Autobacs, which is also a parent company with ASM, will stay with us here in California. Hopefully things go well for them, because I still need to shop there for goodies.