Saturday 18th March 1933

American marque Studebaker went into receivership. The company’s president, Albert Erskine, resigned and later that year committed suicide. Under the leadership of Harold Vance and Paul Hoffman the company was back in profit with a $5.75 million working capital by the end of the year, with 224 new Studebaker dealers. Studebaker closed its doors for the final time in 1966.