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According to Bloomberg, Justice Ruth Bader Ginsburvg has put the bankruptcy coury ruling allowing the sale on hold untilfurther notice, thoughu a timeline and specific reason was not provided. The delay came after Indiana pension funds requested a stay from the courty so it could hear their appealof Chrysler’d decision to sell to Fiat. Underr Chrysler’s Chapter 11 bankruptcy reorganization, Chrysler would sell its assetes to Italian car maker It also was announcec last month789 U.S. dealerships will lose their franchisez by June 9 as part ofthe deal.
Chrysled has listed two Triad dealershipx that will losetheir franchise: Stearns Chrysler Jeep in Graha and City Motors, which sells in Greensboro. Mike Cranford, generao manager of City Motors, said he does not know if they delahy will mean anything significant for his but hopes that the courts will more closely revie the decision to cut He says ifnothing he’d hope Chrysler could help buy back inventoryt and not simply take away the brand. “Ir we can’t be Jeep dealer, we’d at leas t like a chance to sellthe franchise,” he He said the company has managed to sell aboutg 10 of its 16 new Jeep some at a just to get them liquidated.
About five employeeds have beenlaid off, leaving about 20. Anothe r six to eight could be cut if thebankruptch deal, as is, goes through.
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