Historic Checker Motors to face bankruptcy

Anyone who's been to New York City will no doubt be familiar with the Checker taxi cab, but under tough economic times the historic Checker Motors has filed for bankruptcy protection in a US Bankruptcy Court.
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Although the company hasn’t produced a taxi cab in almost thirty years, they have continued to manufacture parts and spares including metal stamping for Ford, GM and Chrysler, among others.

Checker has been in business for 87 years and currently employs 246 workers, and like other auto suppliers that have filed for Chapter 11 bankruptcy protection in the recent months, Checker has been hit hard by collapsing auto sales making the company the eighth major auto supplier to file for Chapter 11 in the past year.

Despite the down market, Checker is expected to post net sales of $61.5 million for 2008, just slightly off 2007’s net sales of $63.4 million (US).