The company set up to get rid of General Motors Co.’s unwanted assets has lost $100 million since GM emerged from bankruptcy protection in July.

Motors Liquidation Co. also said it has assets valued at $1.5 billion and liabilities of $35 billion.

Motors Liquidation was formed as part of GM’s Chapter 11 bankruptcy filing to dispose of closed factories and other assets in an effort to pay off thousands of debtholders.

The new GM kept profitable assets and is trying to make a comeback.

Motors Liquidation reported only $60,000 in revenue from disposal of assets through the end of September.

Motors Liquidation at some point will dispose of the assets, pay as much of the liabilities as it can and go out of business. Some investors are still buying stock in the old company, a hodgepodge of outdated factories and a pile of debt.

Associated Press