updates: September 2009 Archives

Saturn automobile line to close

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Saturn, the beleaguered General Motors import-fighting marque, will be winding down operations after a proposed sale collapsed Wednesday.

GM had planned to sell Saturn to Penske Automotive Group, the company behind successful trucking and auto-racing businesses. Under the agreement, Roger Penske's company would have become a retail seller of cars eventually manufactured by another company. But the manufacturer (rumored to be Renault SA) rejected the deal. Without a manufacturing agreement, Penske was unwilling to complete its purchase.

Saturn's operations instead will be wound down by GM, which has yet to set a timetable for the brand's closing. Saturn currently has 350 dealers across the United States.


Update: Finlay closing specialty stores

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Beleaguered jewelry retailer Finlay Enterprises has decided to close all its specialty stores, including Bailey Banks & Biddle, Carlyle & Co. and other outlets. Finlay, which has endured a restructuring and a bankruptcy filing this year, will apparently be out of the retail jewelry business after store-closing sales are complete.


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This page is a archive of entries in the updates category from September 2009.

updates: August 2009 is the previous archive.

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