LUBBOCK, Texas - Five more Reagor Dykes companies filed for Chapter 11 bankruptcy on Friday. That brings the total to 11. The first six companies filed for bankruptcy on August 1.
Ford accused Reagor Dykes of fraud and defaulting on roughly $40 million of debt.
The latest companies are Reagor Auto Mall, Reagor Dykes Auto Mall, Reagor Dykes II LLC, Reagor Dykes III LLC, and Reagor Dykes Snyder.
The previous filing involved Reagor-Dykes Motors, Reagor-Dykes Imports, Reagor-Dykes Amarillo, Reagor-Dykes Auto Company, Reagor-Dykes Plainview, and Reagor-Dykes Floydada.
So far, EverythingLubbock has not found any petition showing the Reagor Dykes travel company or the land development company.
Of those that filed for bankruptcy in August, the combined negative net worth was more than $35 million. The analysis filed in court records in late October did not include the five new companies.
Reagor Dykes dealerships are scheduled for auction later this month. The opening bid is more than $25 million.
Meanwhile, customers who purchased from Reagor Dykes in the days or weeks before August 1, are without proper titles and in some cases making payments on a car or truck they don’t even have.
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