SSR bankrupt
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From: hattiesburg, MS
SSR bankrupt
This may just be a bad rumor but it is being reported that SSR is bankrupt and will not continue to make wheels.
Here is a link to a thread on corner-carvers.
http://corner-carvers.com/forums/showthread.php?t=21289
mike
Here is a link to a thread on corner-carvers.
http://corner-carvers.com/forums/showthread.php?t=21289
mike
EX Pres of DFW Drunks
Joined: Feb 2001
Posts: 8,132
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From: DFW, TX/Mexico
form Gary@tirerack off another board...
Just got some info on this.
SSR did file for protection from their creditors last Thursday. The company is currently closed for additional business. There will be a period of company restructuring, we expect to learn the details of these actions within the next month or so.
Have no further info/speculation. Also I've been told that customers can be assured that The Tire Rack will honor all product warranty claims.
Just got some info on this.
SSR did file for protection from their creditors last Thursday. The company is currently closed for additional business. There will be a period of company restructuring, we expect to learn the details of these actions within the next month or so.
Have no further info/speculation. Also I've been told that customers can be assured that The Tire Rack will honor all product warranty claims.
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Originally Posted by d0 Luck
tire rack owns part, if not most of SSR
the professor sp1's and d5r's are under tire racks power.
Banned. I got OWNED!!!
Joined: Jun 2004
Posts: 347
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From: CHARLOTTE,NC
well i dont know either way but i do kno9w that ssr's gt3's are rediculously expensive. i was deciding between them and the volk gt-us i have now and ssr wantted like astupid amount more so i said f that and got the volks. i mean them were both just as good looking so it wasnt like i was settling for less just less money alot less
To my basic understanding with our contacts in Japan. lol. We are a Work Wheel importer. Tirerack has purchased the rights to the SSF technology. Aside from that I know not much more. I too have read in papers from Japan online that the company has bankrupt, whether that means a reorg or completely out I do not know nor want to speculate.
It's unfortunate if that is what happens. The wheels available from SSR in Japan are just beautiful. It's too bad that they weren't readily available here.
Another rumor I've been told is that the USA tirerack SP1 is not the same as the Japanese one. Anyone care to specify what this difference might be. Different origin of manf, different process???
Laters, Rishie
It's unfortunate if that is what happens. The wheels available from SSR in Japan are just beautiful. It's too bad that they weren't readily available here.
Another rumor I've been told is that the USA tirerack SP1 is not the same as the Japanese one. Anyone care to specify what this difference might be. Different origin of manf, different process???
Laters, Rishie
raysspl.com
Joined: Sep 2003
Posts: 3,508
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From: L.A.
speedking and RETed, yes it does sound like total BS, but i have a good friend that's affiliated w/ tire rack and purchased their rims countless times, and told me that this is true.
but i do believe this is only considering the USA branch..... not Japan
but i do believe this is only considering the USA branch..... not Japan
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From: n
Sorry for the knee-jerk reaction, but I had to just confirm it myself.
NO, Tire Rack does NOT own any part of SSR Japan, period.
When I got word back, it's worse than mentioned in here.
What was told to me was that SSR Japan just folded.
No warning, nothing.
There is no talk about restarting the company at all.
I dunno where the restructering part came from, but from what I've been told, SSR Japan is gone.
-Ted
NO, Tire Rack does NOT own any part of SSR Japan, period.
When I got word back, it's worse than mentioned in here.
What was told to me was that SSR Japan just folded.
No warning, nothing.
There is no talk about restarting the company at all.
I dunno where the restructering part came from, but from what I've been told, SSR Japan is gone.
-Ted
Rotary Freak
Joined: Apr 2004
Posts: 1,579
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From: Rochester, NY
doh!
closed the doors huh? probably because material prices for luminum have skyrocketed now that China is buying anything they find to get the country up to speed in the world manufcturing marketplace.
thats too bad.
but now Rota can make copies of all of their wheels and we'll get the cheaper... even if they are not as strong.
j/k
closed the doors huh? probably because material prices for luminum have skyrocketed now that China is buying anything they find to get the country up to speed in the world manufcturing marketplace.
thats too bad.
but now Rota can make copies of all of their wheels and we'll get the cheaper... even if they are not as strong.
j/k
Lives on the Forum
Joined: Dec 2001
Posts: 14,716
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From: San Lorenzo, California
That is terrible news, their wheels were very high quality and lightweight for the price -- and good looking too. I guess I won't be getting that set of GT-2s after all...
Lives on the Forum
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Posts: 26,664
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From: n
http://www.nikkei.co.jp/news/sangyo/...B27012005.html
According to Excite translator, the text reads:
The speedster and affiliates have applied for the voluntary bankruptcy.
The speedster sales of the speedster of the aluminum foil
manufacturing sales for the car (Osaka Prefecture Yao City and president
Masanobu Hamada) and affiliates (Osaka City and president Nobuko Hamada)
applied to the Osaka district court for the voluntary bankruptcy on the
27th. Liabilities are 6.7 billion yen in total of the two companies. As
for the speedster, the achievement deteriorates because of competing
intensification with an overseas product etc.The influence reached the
speedster sales of sales companies, and the voluntary bankruptcy was
applied for. (13:01)
-Ted
According to Excite translator, the text reads:
The speedster and affiliates have applied for the voluntary bankruptcy.
The speedster sales of the speedster of the aluminum foil
manufacturing sales for the car (Osaka Prefecture Yao City and president
Masanobu Hamada) and affiliates (Osaka City and president Nobuko Hamada)
applied to the Osaka district court for the voluntary bankruptcy on the
27th. Liabilities are 6.7 billion yen in total of the two companies. As
for the speedster, the achievement deteriorates because of competing
intensification with an overseas product etc.The influence reached the
speedster sales of sales companies, and the voluntary bankruptcy was
applied for. (13:01)
-Ted
Meesto Spakaro
Joined: May 2001
Posts: 489
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From: Redondo Beach, CA
I had the opportunity to have dinner with the vice president and several staff of Speed Star Wheel Co November '04 during the SEMA show. There has been much concern by numerous Japanese companies about where the 'performance' market is headed. They were good people and I didn't notice any serious indication of the company's demise.
Unfortunately, it is not a rumour and is 100% true. SSR will go bankrupt, as they were not able to recoup their recent capital investments on new machinery and facilities due to a loss of sales to lower quality, high volume inexpensive wheel manufacturers such as Rota, ADR, etc etc etc.
Another factor is that their newer wheel lines simply were not up to par with some of the other higher end competition. I definitely prefer the old SSR wheels of the 80's and early 90's.
While their collapse has a lot to do with their business decisions, those who purchase inexpensive knock off wheels did play a role in the company's collapse. Speed Star Wheel Co has been making wheels for over 30 years
This bankruptcy will not be the last of the big name japanese performance companies to collapse due to oversaturation of the market. Several other big name Japanese performance companies that many know and love are publically held and must answer to their shareholders on why sales in recent years have been stagnant.
Here's to you, ebay buyers, internet bargain hunters, and proselytizers of knock off goods
the good news is that the companies that do go bankrupt will be purchased by other companies....bad news is that the level of innovation and company identities will drastically change (reads as: no new shiet)
Unfortunately, it is not a rumour and is 100% true. SSR will go bankrupt, as they were not able to recoup their recent capital investments on new machinery and facilities due to a loss of sales to lower quality, high volume inexpensive wheel manufacturers such as Rota, ADR, etc etc etc.
Another factor is that their newer wheel lines simply were not up to par with some of the other higher end competition. I definitely prefer the old SSR wheels of the 80's and early 90's.
While their collapse has a lot to do with their business decisions, those who purchase inexpensive knock off wheels did play a role in the company's collapse. Speed Star Wheel Co has been making wheels for over 30 years
This bankruptcy will not be the last of the big name japanese performance companies to collapse due to oversaturation of the market. Several other big name Japanese performance companies that many know and love are publically held and must answer to their shareholders on why sales in recent years have been stagnant.
Here's to you, ebay buyers, internet bargain hunters, and proselytizers of knock off goods
the good news is that the companies that do go bankrupt will be purchased by other companies....bad news is that the level of innovation and company identities will drastically change (reads as: no new shiet)
Last edited by BlackR1; Feb 13, 2005 at 12:41 AM.
