During a bankruptcy court hearing on Wednesday, there was an indication that another buyer might be interested in the Reagor Dykes dealerships.
An attorney for the Reagor Dykes Chief Restructuring Officer said there was an “expression of interest from another buyer” but she did not provide other details either during the court hearing or after. During the hearing, she said there was a meeting scheduled with Ford in Dearborn, Michigan for Tuesday of next week.
In court, the attorney said the Reagor Dykes companies “remain alive and well.”
A reporter with EverythingLubbock.com called the Reagor Dykes locations in Lubbock, and West Texas. Five of them were open – either until 4:00 pm or until 5:00 pm depending on location. Six of them did not answer the phone.
Of the locations that were open, two – the Toyota dealership in Plainview, and Chevrolet dealership in Floydada – could not sell vehicles. The other three indicated that there were at least some circumstances under which a customer could buy a vehicle.
A judge on January 17 removed certain bankruptcy protections and ruled that both Ford and Toyota could stop doing business with Reagor Dykes.
Technically, a Chapter 11 reorganization plan involving the McDougal-Dykes-Ewing was still on the table for Reagor Dykes as of Wednesday. But a judge was critical of the plan in his January 17 ruling. Reagor Dykes has been given a May 1 deadline to provide a revised plan or a new plan.
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