Chrysler Files for Chapter 11

POSTED: Friday, May 1, 2009 - 9:10am

UPDATED: Friday, October 14, 2011 - 1:23am

Chrysler filed for Chapter 11 bankruptcy protection on Thursday.

The automaker says bankruptcy is necessary after talks with some of their creditors over the company's 6.9 billion dollar secured debt led nowhere overnight.

Chrysler expects the bankruptcy to last up to 60 days while they finalize a partnership with Italian automaker Fiat. As part of the restructuring plans, officials say they will temporarily stop manufacturing on Monday.

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Chrysler filing for bankruptcy is really a shocking news for me. I'm a Chrysler LHS owner and I'm thinking about the future of my car. If Chrysler really declared bankruptcy then what would happen to the car and part dealers? As for me if I have a Chrysler LHS Emergency Brake Parts problem then where will I get those parts? There are so many questions that can not be answered now.

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