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According to Bloomberg, Justice Ruth Bader Ginsburg has put the bankruptcy courty ruling allowing the sale on hold untilfurther notice, thougbh a timeline and specific reason was not provided. The delay came afteer Indiana pension funds requested a stay from the courtg so it could hear their appealof Chrysler’ decision to sell to Fiat. Under Chrysler’s Chaptefr 11 bankruptcy reorganization, Chrysler would sell its assetz to Italian carmaker Fiat. It also was announced last month789 U.S.
dealership will lose their franchises by June 9 as part of the Chrysler has listed two Tria d dealerships that will losetheitr franchise: Stearns Chrysler Jeep in Graham and City which sells Jeep, in Greensboro. Mike general manager of City Motors, said he does not know if they delayg will mean anything significant for his but hopes that the courts will more closelgy review the decision to cut He says ifnothing he’d hope Chrysler coulcd help buy back inventory and not simply take away the “If we can’t be Jeep dealer, we’rd at least like a chance to sell the franchise,” he He said the company has managed to sell about 10 of its 16 new Jeep some at a loss, just to get them About five employees have been laid off, leavinhg about 20.
Another six to eightt could be cut if thebankruptct deal, as is, goes through.
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