A bankruptcy judge on Thursday set a court hearing for September 18 at 10:00 a.m. on the issue of auctioning off the Reagor Dykes dealerships.
A list of Reagor Dykes companies filed for bankruptcy on August 1. Prior to the bankruptcy, Ford Motor Credit Company accused RD of default and fraud.
Under the control of Chief Restructuring Officer, RD requested permission to auction off 13 dealerships. A so-called stalking horse bid of more than $25 million was also submitted in court records. The bid came from KamKad.
If the auction is approved, other companies can try to outbid KamKad in November.
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