02-09-2009, 03:03 PM | #1 |
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Texas Closings
There seems to be a lot of talk of Texas Dealerships in trouble, or closing. Are there any facts?
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02-09-2009, 03:32 PM | #2 | |
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I've always thought that Texas would be the last area to get hit because the economy has been relatively strong. In fact, I was surprised to read about the closing of the Lawrence Marshall dealership. |
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02-10-2009, 05:00 AM | #3 |
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There is talk of several, mostly small, dealers in trouble. The Bloomberg news is also a little scary. I've done this a long time, but I still don't know what I'd expect in a bankruptcy!
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02-10-2009, 09:47 AM | #4 | |
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In answer to your question, I don't have any information concerning Texas but I have watched a number of dealers fail on the West Coast. Northern California seems to be the area that's been hit the hardest and it hasn't let-up yet. Concerning Chapter 11 for Chrysler, we've concluded that it would be a dealer's worst nightmare. Cash flow issues would wipe out most dealers. |
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02-10-2009, 09:55 AM | #5 |
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The impact of Chapter 11 filings on dealers
Concerning your statement about what might happen if one of the OEMs were to file Chapter 11 Bankruptcy, here's a thread you might want to review.
http://www.dealershipforum.com/forum...hlight=chapter I really hope that it doesn't come to this, but it is a legitimate worry. |
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