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.
Maruishi goes bust
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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