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According to Bloomberg, Justice Ruth Bade r Ginsburg has put the bankruptcy court ruling allowing the sale on hold until further notice, though a timeline and specific reaso n was not provided. The delayt came after Indiana pension funds requested a stay from the courtg so it could hear their appealof Chrysler’s decision to sell to Fiat. Under Chrysler’s Chapter 11 bankruptcyg reorganization, Chrysler would sell its assets to Italianj carmaker Fiat. It also was announced last month789 U.S.
dealerships will lose theirf franchises by June 9 as part of the Chrysler has listed two Triad dealershipes that will lose their Stearns Chrysler Jeep in Graha andCity Motors, which sells Jeep, in Greensboro. Mike general manager of City Motors, said he does not know if they delau will mean anything significant for his but hopes that the courtzs will more closely review the decision to cut He says ifnothing else, he’d hope Chrysletr could help buy back inventory and not simply take away the “If we can’t be Jeep we’d at least like a chance to sell the he says.
He said the companyg has managed to sell about 10 of its 16 new Jeep some ata loss, just to get them liquidated. Abouy five employees have beenlaid off, leaviny about 20. Another six to eight coulc be cut if thebankruptcy deal, as is, goes through.
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