Chrysler Looks to Shutter 789 Dealerships

By Xana O'Neill
|  Thursday, May 14, 2009  |  Updated 12:37 PM CDT
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Blame Them For Your Empty Wallet

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The ailing automaker has roughly 3,200 dealers across the country but is looking to slash 25 percent of them.

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Chrysler LLC wants to shutter 789 of its dealers across the country by early next month as part of its restructuring process.

The ailing automaker has roughly 3,200 dealers across the country but is looking to slash 25 percent of them in a move that could have sweeping impact on the jobs and tax revenue in cities across the U.S.

The dealers will be individually notified by the company, a spokeswoman for Chrysler said.

It is likely the dealers can appeal to get off the doomed list , the AP reported.

Chrysler received $4 billion in government loans and filed for Chapter 11 bankruptcy protection on April 30. The automaker asked a bankruptcy judge to allow the sale of its assets to a new Chrysler overseen by Fiat Group.

General Motors has also been planning to shutter dealerships around the country and has a deadline of June 1 to come up with a restructuring plan or file for bankruptcy.

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