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Old 04-09-2010, 10:47 AM   #1
XDCX
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Default Bossier Chevrolet and Chrysler, Jeep, Dodge closes down

News reports indicate that Bossier Country, a Chevrolet and CJD dealership in Farifield, TX closed their doors last week. Here's a link to the news report - click here

Sadly, the news report indicated there are customers with unpaid trade liens and they're having a tough time getting any answers.

I thought it was interesting the dealership filed Chapter 11 bankruptcy in November but ended up shutting down when they couldn't secure financing. This is the second case I'm aware of where a dealer filed Chapter 11 but it just delayed the eventual closing of the dealership.
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Old 04-09-2010, 11:16 AM   #2
possum
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DealerEx will expound his extreme knowlege of this store, but I know at one time Mr. Bossier was the "golden child" of Chrysler. They pretty well looked down on the rest of us, and would not even Dealer Trade with "little Dealers".
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Old 04-09-2010, 12:30 PM   #3
Txflyer
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It's been awhile, but we used to do a few of dealer trades with Bossier. Mainly on the Chevy side if memory serves me.
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Old 04-12-2010, 12:30 AM   #4
XDCX
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Quote:
Originally Posted by possum View Post
DealerEx will expound his extreme knowlege of this store, but I know at one time Mr. Bossier was the "golden child" of Chrysler. They pretty well looked down on the rest of us, and would not even Dealer Trade with "little Dealers".
It is amazing how many dealers run their store so deep into the ground they cannot afford to pay employees, taxes, trade liens, etc. when they finally close their doors.

That's one of the reasons I respect Ralph's decision to close his store and walk away on his own terms. Sadly, I bet there are a lot of dealerships operating today with a negative net worth just trying to manage their cash flow while they pray that the economy improves.
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Old 04-12-2010, 09:20 AM   #5
DealerEx
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As Possum knows, I was not a big fan of Scott Bossier, but I stil feel bad for them. He was indeed one of the factory's favorites. At one point starting back in the early 2000's the Zone Mgr. rigged an election to get Scott on the advertising board, then "appointed" Scott as the ad board rep. for 2 other non-metro slots in west Texas (that should have been elected positions) where he had no business affiliations of any kind, in effect giving the zone mgr. control of 3 board votes with one person. At the time Bossier was one of the top volume dealers in the Texas market for both CDJ and Chevrolet(at the Fairfield store). Scott purchased a CDJ store in Waxahachie a couple of years ago, that had an expensive new "millenium" facility, and when it was terminated last year, the payments on that dealership, combined with the sales crash at the Fairfield store, just drained all the operating capital in about 6 months. The Fairfield store had pretty much ceased normal operation back in fall of 2009. Their inventory there had dropped from 300+ units down to about 25-30, and everyone knew they were in serious financial trouble. The Waxahachie CDJ store just reopened a couple of weeks ago under the name of Waxahachie Autoplex, but I don't know who the new owner is.

Back in mid 90's, Scott's father Larry, had a very successful CDJ dealership in Bryan-College Station...state of the art facility, high volume etc...The Bossiers actually sold majority ownership of that dealership to 2 high ranking Chrysler VP's who decided to go into retail when they took their early retirement package following Daimler's merger. That was real popular with all the other dealers as the perception was they then got all the production they wanted of any hot model.
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Old 04-12-2010, 03:57 PM   #6
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DealerEx - Thanks for the information, that's an interesting back-story.

I've read a number of times that dealers with multiple locations/franchises should set them up in such a way where the failure of one does not take down the entire empire. That said, I've heard that's easier said than done because the flooring sources want to cross-collateralize the assets.

I respect that you don't derive any joy from someone else's misfortune - that's hard to do sometimes.
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