Italy's Fiat, who has agreed to purchase the restructured Chrysler, made the picks on which dealerships to close and which ones would go on to be part of the new company.

Should the judge approve the move, dealerships could begin shuttering as soon as June 9.

GM is said to be considering not renewing franchise agreements with 1,100 dealerships across the country. Whether this company goes the same route as Chrysler and file for bankruptcy still remains to be seen, but some industry experts see the writing on the wall for GM.

As reported by GlobeSt.com, Chrysler filed for Chapter 11 bankruptcy. protection at the beginning of May. Simultaneous to the court filing, the automotive company entered into a deal with Fiat.

Chrysler's CEO, Bob Nardelli, said at the time that the filing "enables us to better serve our customers and dealers with a broader and more competitive line-up of environmentally friendly, fuel-efficient high-quality vehicles. Benefits to the new company include access to exciting products that complement our current portfolio, technology cooperation and stronger global distribution."

Earlier, Steven Chaben, first vice president and regional manager of Marcus & Millichap in Detroit, told GlobeSt.com, "This community is on pins and needles waiting to see what will ultimately happen."

Instant Insights /

Chrysler Proposes Shuttering 789 Dealerships

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