LUBBOCK, TX (KCBD) - In documents filed on September 7, the Internal Revenue Service is now listed as a creditor and a party in interest in the bankruptcy case for Reagor-Dykes Auto Group.
According to federal court documents filed on July 31, 2018, Ford Motor Credit Company is suing Reagor-Dykes dealerships, Bart Reagor and Rick Dykes. Ford says the dealerships have an outstanding balance of more than $116 million, and currently more than $41 million is due now.
On August 1, 2018, Reagor-Dykes Auto Group filed Chapter 11 bankruptcy for nine locations across Lubbock, Amarillo and other parts of the south plains.
Three Lubbock locations, Rick Dykes and Bart Reagor have until Sept. 14 to file a response to Ford Motor Credit's complaint, and to decide if they will also be included in the bankruptcy.