Weld Wheel seeks bankruptcy, plans to sell assets

By DAN MARGOLIES
The Kansas City Star

Weld Wheel Industries, a Kansas City maker of high-performance automotive wheels, filed for Chapter 11 bankruptcy protection this morning and plans to sell its assets.

The 21-year-old, family-owned business said it lost $1.1 million in the first six months of this year on net sales of $21.8 million. The abbreviated bankruptcy petition did not break down Weld Wheel’s debts, but said that the company has total assets of $31.6 million.

The bankruptcy documents stated that Weld Wheels has signed an asset-sale agreement with American Racing Equipment Inc. in southern California. Terms of the sale were not listed.

 

Damn over seas wheel companies making it harder for AMERICAN wheel companies to make money......

 

that sucks.....

 

DAMN IT!! Just getting ready to look @ wheels for my car too......

 

All to true my friend, all to true.
I am sometimes required to consult megabillion $$ corporations with issues they have on parts manufactured overseas (read asia). Sometimes I have to chuckle when they wonder why they're having issues on parts they pay 2 cents on the dollar for.Penny wise, dollar stupid.
Oh well, what are you gonna do? Buy American
Rant over.

 

According to the Sept. Hot Rod , GM is even going to have some wheels made in China. "GM likes Chinese parts too "

 

Gm has been outsourcing like that for years......

 

That's true , but it makes me wonder , who is going to buy the stuff if no one in the USA has a job ? I'm not serving rice to the Chinese .