STUDEBAKER HISTORY On this day in 1933, American automaker Studebaker, then heavily in debt, goes into receivership.  The company’s president, Albert Erskine, resigned and later that year committed suicide. Studebaker eventually rebounded from its financial troubles, only to close its doors for the final time in 1966. The origins of the Studebaker Corporation date back to 1852, when brothers Henry and Clement Studebaker opened a blacksmith shop in South Bend, Indiana. Studebaker eventually became a leading manufacturer of horse-drawn wagons and supplied wagons to the U.S. Army during the Civil War. Around the turn of the century, the company entered … Continue reading Studebaker Goes Bankrupt