Checker in Chapter 11, May & Scofield foreclosed
Posted on January 19th, 2009 • by David Zatz
Checker, an 87 year old company that once made iconic taxi cabs, has declared Chapter 11 bankruptcy 25 years after dropping its cabs. The company makes stampings and welded assemblies, and sells to GM, Ford, and Chrysler; the 246-person company had roughly $60 million in sales in 2008, according to Automotive News.
May & Scofield LLC closed last week when the Bank of America foreclosed; the supplier, started in 1914, had been hoping for a sale in October.
Automotive News reported that 54 major American suppliers have filed for bankruptcy in this decade alone.
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