Troubled bicycle builder Maruishi Cycle Industries Ltd. of Tokyo - said by some to be the Enron of the bike trade - appears to have ceased trading. Some of the firm's existing and former executives have been helping police with their enquiries following allegations of stock-market price fixing.
Japan's Kyodo news agency reports that Maruishi has effectively gone bankrupt as banks have suspended transactions with the firm on its second failure to honour a bill.The bicycle maker has liabilities totalling some 2.9 billion yen, said Teikoku Databank Ltd., a Japanese credit reference agency.
See links below for earlier stories on Maruishi.
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