Ssangyong applies for court receivership
Güncelleme Tarihi:
The Associated Press
Oluşturulma Tarihi: Ocak 10, 2009 00:00
SEOUL - Troubled South Korean automaker Ssangyong Motor has applied for protection from creditors to buy time to restructure itself into a profitable manufacturer after red ink mounted and cash flow collapsed amid falling sales.
Ssangyong said in a statement Friday that it made the "unavoidable choice" to file for court receivership to "deal with an urgent liquidity crisis and transform itself into a company with sustainable growth."