DETROIT -- General Motors Co. said Wednesday it will shut down Hummer after its bid to sell the brand to a Chinese company collapsed.
Heavy equipment maker Sichuan Tengzhong Heavy Industrial Machines Co. pulled out of the deal for Hummer, known for its hulking, military-like SUVs, because it was unable to get clearance from Chinese regulators within the proposed deal timeframe, the manufacturer said in a separate statement.
GM said it will continue to honor existing Hummer warranties.
"We are disappointed that the deal with Tengzhong could not be completed," said John Smith, GM vice president of corporate planning and alliances.
Tim Kelly of Kelly Automotive Group in Chattanooga said he is disappointed at the recent news. But, he said, Saab experienced similar setbacks and now it's under new ownership. Mr. Kelly said he is holding out hope the same happens with Hummer.
"There is something worthwhile there going forward," he said. "It happened with Saab. It could just as easily happen with Hummer."
'Simply Unum' now in 50 states
Chattanooga-based Unum announced that it had finished rolling out its Simply Unum small business solution in all 50 states, with the program's Monday launch in California, Hawaii and Maryland.
Simply Unum is designed to simplify the application process for small employers and offers online administration tools, according to a press release.
Company officials said they plan to continue rolling out enhancements to the program over the next few years.