Four units of the Dutch car dealer and European importer of North American General Motors cars, Kroymans, have been declared bankrupt, an industry union said.
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A unit of Kroymans had said earlier in March that the dealer had won approval to suspend debt payments for the four units due to a liquidity shortage following a decline in sales.
Union CNV Metaaltechniek told Reuters Kroymans Corp, Kroymans Import Europe, Kroymans Retail Group and Kroymans Car Import had now been declared bankrupt.
Dolf Polders, director of the union, said that divisions of these units were still running and may be sold. He said up to 1,000 jobs could be affected, though many could be transferred to other companies in the event of sales.
Kroymans, which is privately owned and had 2007 sales of EUR2.1b (US$2.80bn), imports and distributes GM’s Cadillac, Corvette and Hummer into Europe. It also imports and distributes brands such as Saab, Jaguar, Kia, Ferrari and Alfa Romeo to one or more European countries.
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