Mayor: Downtown Lubbock growth to remain strong regardless of Reagor-Dykes future
The lawsuit Ford Motor Credit filed against Reagor-Dykes Auto Group and owners Bart Reagor and Rick Dykes claims Reagor made physical threats of violence against Ford representatives.
In the lawsuit Ford claimed Reagor-Dykes owes the auto company's financial branch more than $116 million, $41 million of which is currently delinquent.
According to the filing Ford representatives attempted to discuss the results of its audits at all of the Reagor-Dykes dealerships with Reagor. Ford was asking the dealerships to pay the amounts due when Reagor reportedly became enraged and began screaming at the auditor, then made the threat.
The suit states the threat was reported to management and, as a result, Ford sent its corporate security team from Dearborn, Michigan to meet with Reagor and co-owner Rick Dykes.
The lawsuit requests Reagor be ordered to refrain from threatening, harming, or otherwise interfering with any of the creditor's representatives doing their jobs. It also asks the court that Reagor be ordered off the premises of any and all of the Reagor-Dykes dealerships at any time Ford representatives are present.
Given the legal troubles and bankruptcy filings, some wonder what happens with the money Reagor invested in downtown redevelopment.
"As it relates to all the other investors and business and construction that is going on with the many property owners and business owners, the many residents that go here, is going to continue," said John Osborn, CEO and President of Lubbock Economic Development Alliance.
Osborne and Mayor Dan Pope are in confident redevelopment will continue despite the potential loss of a huge revenue generator and investor for the city.
"You don't have concentration risk, you know, it's not all on one business or one investor," Pope said. "You've got a lot of retail, small business, attorney's offices, construction firms, residential, brew pubs, whatever it may be, entertainment, there's a lot of that and it's flourishing and growing in downtown."
He said he is hoping the company can resolve their financial issues quickly.
"Certainly Reagor-Dykes has contributed greatly to downtown and that's something we appreciate and we hope that they're able to do so in the future but I think downtown will move forward."
Reagor-Dykes' executives are expected to be in court next week for a hearing.