Chrysler goes bankrupt
Thursday, April 30th, 2009
One of the three big companies in the American auto industry files for Chapter 11 bankruptcy. It claims that a deal with Fiat has been reached and the company will be revived one way or another.
Chapter 11 bankruptcy does not mean that Chryler will be liquidated, but that it will be reorganized. Therefore, there are chances for the company to continue to exist.
Anyway, it looks like one of the big three admitted it is bankrupt. We are waiting for Ford and General Motors to do the same…