DealersEdge Professional Forums

Yesterday, GM Financial came in and seized the dealership, all accounts and everything in it.

We knew things weren't going well and all assumed we would just be sold to a new owner. Apparently all their attempts to sell failed for various reasons.

So now, 22 good people are unemployed and GM is clearing everything out of the building.

Now I know the real reason I wasn't able to get my parts orders to go through starting last Friday.

Only thing I'm really wondering now is how they could also legally seize the payroll account meaning none of us will be paid again. Our pay weeks ran from Wed to Tue so there's a full week of pay owed to every employee.

Anyway, I loved this forum and all the help it provided and I really enjoyed helping out when I could. Thank you to all.

Good luck to everyone here.

Sorry to hear that Zepp. I know you will hear this from alot of people going forward, but things happen for a reason, and this might be a good thing in the long run. What ever the future holds for you, I hope you keep in touch on here. Wishing you the best.

Keep your head up Zepp, you will land someplace better i am sure

Will miss you. Good luck!

I hate this for you Zep, and your fellow employees! Keep tabs on us in here, your knowledge will still be useful to all of us. Take care, and keep us posted on your new endeavors!

Zep, where are you located in case any of us know of anyone looking for people?

Good luck out there!

Zep, Your A Good Parts Man With A Butt Load Of Experience You'll Find A New Home No Problem...

Zep,

I've been there once in my career. If it's a bankruptcy, all accounts get frozen to prevent any fraud or theft. However, once they begin to liquidate, payroll is the first thing paid under bankruptcy law. It may take a little bit, but if there is any money at all, the employees get paid. Best of luck to you and the others at the dealership. I know what that feels like.

Thanks everyone. It's been a rough last year here regardless of the outcome. Still not sure if it's hit me yet or I'm feeling relieved it's over.

I worked for this owner since 1992 aside for 5 years I spent in AZ

It felt so strange today not going in to work.

Camaroman, I'm on Cape Cod in Mass.

Best of luck to everyone here and I'll be sure to swing by from time to time