SsangYong will continue to trade as usual, despite declaring bankruptcy in its home country of Korea.
The struggling carmaker, currently on the sales block after Indian owner Mahindras failure to turn the company around after a decade, has entered what the company is calling a private rehabilitation program that resembles an American Chapter 11 bankruptcy.
Its designed to give the company a reprieve to find funding or to finalise a new buyer while it restructures its business.
During this period, SsangYong Motor company, including the Australian subsidiary, remains fully operational, business as usual, said Australian managing director Chris Mandile in a statement.
After a couple of false starts, SsangYong returned to Australia in 201…
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