Reagor-Dykes Auto Group establishes process to resolve customer problems
The Reagor-Dykes Auto Group issued this statement Tuesday afternoon:
The Reagor-Dykes Auto Group is very appreciative of our customers.
We sincerely regret that any of our customers have been negatively impacted by the situation.
Beginning today we are establishing a Customer Meeting Process at our downtown Lubbock headquarters. This process will allow any customer that has been negatively impacted to meet with the Auto Group and discuss the issues.
We ask all such customers to call our corporate office at 806-776-8700 and speak to our receptionist for the purpose of setting up an appointment with one of our representatives.
For out-of-town customers, we will offer to conduct such a meeting via a telephone appointment.
We look forward to meeting face-to-face with our customers as we remain dedicated to resolving all the issues.
During testimony in U.S. Bankruptcy Court last week, the chief restructuring officer overseeing Reagor-Dykes operations said there were about 900 vehicle transactions being processed around the time of bankruptcy filing. These sales or leases across nine dealerships included problems of titles not being processed, trade-ins not being paid off, or new cars in customers' possession without titles. "It was a very chaotic situation," Schleizer testified. The total value of vehicles in this kind of processing limbo exceeds $6 million.
A?UG. 31: International Bank of Commerce asks for court to allow it to foreclose on Reagor-Dykes dealerships
AUG. 31: More Reagor-Dykes companies, co-owners may soon file for chapter 11
AUG. 30: Court extends Reagor-Dykes employment of CRO; officer discusses potential dealership buyers
AUG. 29 : International Bank of Commerce asks for loan payment in Reagor-Dykes case
AUG. 29: Ford Credit objects to Reagor-Dykes earlier legal team
AUG. 27: Vista Bank doubles relief request in new federal suit against FirstCapital Bank
AUG. 25: Reagor-Dykes chief restructuring officer hires new legal team
AUG. 25: GM proceeding with termination of Reagor-Dykes Floydada
AUG. 23: Landlords demand rent for Reagor-Dykes dealerships in Lubbock, Plainview
AUG. 20: Ford Credit moves ahead with suit against Reagor, Dykes, some R-D companies
AUG. 18: Reagor-Dykes bankruptcy case: Read court order following Aug. 16 hearing
AUG. 17: Auto dealer claims Reagor-Dykes owes $513,000, vehicles may be in consumers' possession
AUG. 16: Vista Bank sues FirstCapital for $6 million, claims Dykes helped perpetrate check kiting scheme
AUG. 16: Bankruptcy court allows Reagor-Dykes continued use of cash collateral, hiring of CRO
AUG. 15: Reagor-Dykes Auto Group issues written apology
AUG. 14: Loss of Reagor-Dykes Chevrolet in Floydada a potential financial pitfall for city
AUG. 14: Vehicle auction company claims Reagor-Dykes owes it $687,000
AUG. 14: Ford Credit claims Reagor-Dykes is not following court orders; court grants extension to file docs
AUG. 13: U.S. Trustee opposes Reagor-Dykes request to hire chief restructuring officer
AUG. 10: Ford Credit: Reagor-Dykes fraud may be among largest of its type in U.S. history; GM files to terminate Floydada dealership
AUG. 9: Reagor-Dykes questions former CFO’s actions; Contractor claims $700,000 due now
AUG. 7: Former Reagor-Dykes employees claim they were not paid
AUG. 6: Customers concerned over Reagor-Dykes 'unwinding' process
AUG. 6: Ford suit against Reagor-Dykes on hold while bankruptcy case proceeds
AUG. 3: Judge approves Reagor-Dykes employee pay
AUG. 2: Mayor: Downtown Lubbock growth to remain strong regardless of Reagor-Dykes future
INITIAL STORY: Ford Motor Credit sues Reagor-Dykes; R-D files for chapter 11 bankruptcy