General Motors bankruptcy dealings could affect Detroit fire and police retirees and Detroit city general pension fund.

Now that General Motors is in bankruptcy, the company is reviewing its real estate leases.

General Motors warehouses and ships from facilities all over the country.

GM Bankruptcy Could Affect Fire, Police

To save money several years ago, GM sold most of the buildings and leased the space back.

Now that the company is in Chapter 11, they have plans to renegotiate every lease and contract it intends to keep after emerging from bankruptcy.

Local 4 News has learned, five GM service parts operations in Charlotte, North Carolina, Chicago, Illinois, Denver, Colorado, Reno, Nevada and Rancho Cucamonga, Calif. are owned by an investment firm located in Southfield.

Inheritance Capital Group is also the firm that is involved with the Detroit Police and Fire Pension Board and general city employee general pension fund.

GM wants the company to cut their lease costs by 10 to 20 percent or the company said it may seek alternate options, including leaving those warehouses empty.

If the leasing company agrees to cut costs, than it could cost the retired police and firefighters up to $53 million and the city pension fund even more.

GM said in a statement, "GM is reviewing every aspect of its business, including all real estate leases. All leases that have not been rejected to date are being reviewed for further consideration of their inclusion in the new GM."