some of its real estate assets in the UK in an attempt to raise
cash quickly.
The Detroit-based manufacturer, which has been badly hit by the
credit crunch and reported losses of around $2.5 billion in Q3, is
understood to have asked real estate agent John Lang LaSalle to
find buyers for some of its business.
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The company has not announced yet which assets it intends to
sell and lease back, although people familiar with the situation
believe that they could include its headquarters in Luton and other
non-manufacturing property in England.
Last month, GM said it would take “further actions to improve
liquidity and reduce structural cost” in response to deteriorating
economic conditions.
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