This is a public record generated listing.
Car Dealership Business for Sale
Listing Information
Attachments
Car Dealership Business for Sale
Price: Not Specified
Other Item Info
Item #: iasbke_135378
Created: 01/05/2015
Category: Business Property > All Assets or Going Concerns > Automobiles & Parts
Sale Date: None Set
Created: 01/05/2015
Category: Business Property > All Assets or Going Concerns > Automobiles & Parts
Sale Date: None Set
Seller Info
Bradley R. Kruse
Debtor's Attorney
666 Grand Avenue, Suite 2000
Des Moines, IA 50309
515-242-2460
Debtor's Attorney
666 Grand Avenue, Suite 2000
Des Moines, IA 50309
515-242-2460
Bankruptcy Info
Case #: 4:14-bk-02831
Case Title: Gretter Autoland, Inc.
Court: Iowa Southern Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Gretter Autoland, Inc.
Court: Iowa Southern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all the assets of Gretter Autoland, Inc. including car dealership assets, plus the dealership real estate leased by the Company. The Sale Assets include all the Assets used in connection with or related to the Business including, all New Vehicles, Used Vehicles, New and Used Parts (subject to some limitations), Tools and Equipment, dealership franchise rights, and goodwill of the business.
Gretter Autoland, Inc. is an automobile dealership located in Washington, Iowa, and is engaged in the sale and leasing of new and used vehicles to retail customers, as well as in the servicing vehicles. The Company holds two manufacturer franchises, one from General Motors and one from Ford.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
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Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Additional Details
- Bid Deposit: 10% of the proposed purchase price
- Initial Overbid: (A) the Purchase Price; plus (B) the amount of the Break-Up Fee (3% of the Purchase Price), plus (C) $20,000.
- All offers subsequent to the opening bid at the Auction must exceed the prior offer by not less than $20,000
- The Sale Price of dealership franchises is of $350,000.00
- The Purchase Price includes: (i) payment for New Vehicles at net cost from the manufacturer less certain deductions for mileage, (ii) payment for Used Vehicles at a mutually agreed price (or excluded from sale), (iii) payment for New Parts for dealer cost, (iv) payment for other parts at a mutually agreed price (or excluded from sale), (v) payment for the dealership franchises of $350,000.00, and (vi) payment for tools and equipment at a mutually agreed price.