A black day for Citroën, exactly 90 years ago today. On 21 December 1934, the brand was declared bankrupt. Investments in the development of the revolutionary Traction Avant, the reconstruction of the factory and the costs of André Citroëns huge publicity campaigns had gone too high to pay off creditors any longer. Yet all was not lost, as Citroëns biggest creditor, tyre manufacturer Michelin, wanted to take over the company. A new period in history was about te begin!
Want to know more about the history of Citroën? Then take a look at our selection of second-hand books here!
