NJ Dealership Victim of Chrysler Woes

Belle Meade, New Jersey -   After 74 years, the  Belle Mead Chrysler Dealership  in New Jersey has lost its franchise.

Watch Lisa Murphy's story to the left

It is just  one of nearly  800 dealers nationwide facing termination in the wake of the Chrysler restructuring plan.

Chyrsler headed back to bankruptcy court Tuesday to get a judge to approve the franchise terminations.

Yesterday, Supreme Court Justice Ruth Bader Ginsburg delayed the sale of the automaker to Fiat Group S.p.A.

Several attorneys representing hundreds of dealers from across the country argued in bankruptcy court Tuesday that little would be gained by terminating their franchises, while Chrysler maintained that the move is a necessary part of its plan to cut costs and quickly emerge from Chapter 11.

The judge is expected to rule after arguments conclude.

  Meanwhile, the Belle Meade dealership owners plan to keep their doors open.

 The owners say they will sell used cars and service others.