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Chrysler Announces Plans to Close 25 Percent of its Dealerships
Troubled U.S. carmaker Chrysler will be closing nearly 25 percent of its dealerships according to a plan revealed in bankruptcy court, shutting down close to 800 of its 3,200 dealers.
Chrysler has notified several of the dealers who will be shut down, pointing to declining sales and poor locations as a major factor in the decision. According to Chrysler half of its dealerships account for 90 percent of their U.S. sales, a figure that led to the closings.
While Chrysler received billions of dollars from the U.S. government as part of a bailout package the aid didn’t prevent the automaker from filing for bankruptcy protection in April. Under bankruptcy the company can continue trading while being protected from creditors.
Chrysler is currently in talks with Italian carmaker Fiat in hopes of striking a deal that would keep the brand alive.
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