Chrysler Shuts Dealerships

Bankrupt Big Three automaker Chrysler will shut down 789 dealerships, about one-fourth of its sales locations.

In December, then-President George W. Bush announced a $13.4 billion rescue loan for American automakers, including Chrysler. In March, President Barack Obama announced he would provide an additional $6 billion in further support to Chrysler, contingent on the company finalizing an alliance with Fiat.

Chrysler LLC is an American automobile manufacturer headquartered in the Detroit suburb of Auburn Hills, Michigan, first organized as Chrysler Corporation in 1925.