Bigmotor aims to rebuild business with outside help

Japanese used car chain Bigmotor appears to be looking to rebuild its business by the end of the year with outside financial help. This comes after the company's sales plunged following allegations it had been filing false insurance claims.

Bigmotor's earnings have dropped, and banks have asked it to review its organizational structure and improve its management.

Sources close to the matter say Bigmotor will seek candidates to arrange financial support by October. It will aim to make a final decision by the end of the year.

The company laid out its plan in a meeting with banks on Thursday.

But prospects for Bigmotor's recovery are unclear. Its in-house investigation has not fully clarified the extent of the scandal.