Champion Gone Bust? | FerrariChat

Champion Gone Bust?

Discussion in 'New York Tri-State' started by Black355, Nov 18, 2008.

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  1. Black355

    Black355 F1 Veteran

    Feb 3, 2004
    5,255
    10036
    Full Name:
    Emil
    Can the rumour be true? Champion is no more? Anyone have any direct information?
     
  2. Diablo

    Diablo Formula Junior

    They were chapt 11 a couple of weeks ago
     
  3. wassabihg

    wassabihg Formula 3

    Feb 6, 2006
    1,292
    We just had Turkey Run '08 from there... They're not bust.
     
  4. lotustt

    lotustt Formula 3

    Aug 28, 2002
    2,026
    Full Name:
    TRM
    If they did have to file, it does not mean the doors get locked up. They can still operate and reorganize.
     
  5. dwhite

    dwhite F1 Rookie

    Was there on Sunday. They have huge used car inventory, gigantic showroom and probably very few customers right now. Heard they are in trouble from some people at the event.
     
  6. azew

    azew Formula Junior

    Jul 4, 2006
    463
    New York
    Have heard the same - Chapter 11 is a reorganization, not a liquidation -- so they can continue to do business whilst they figure out (and the court and trustee and creditors figure out) what they can do to salvage value and perhaps the business going-forward.
     
  7. GlobalLambo

    GlobalLambo Formula Junior

    Oct 22, 2006
    408
    Mineola, NY
    Full Name:
    Seth Rose
    People love to start rumors, but you are a bit old on the rumor, it was started weeks and weeks ago from 2 sources that I am aware of, 2 different dealership employees. Well I can tell you from personal knowledge that they are NOT bust, bankrupt, closing the doors, or anything of the sort.

    Truth be told, if anyone claims they are thriving right now they are outright lying, however, they usually sell 80-100 cars per month, and that did in fact take a dip in October, but heck when was the last time any dealership that anyone has purchased an exotic from sell 100 cars in a month! They are on top of their game, more than any of the other dealers - which I will not call competitors because Champion is definetly in a league of their own.

    Now if ANYONE knows anything about Chapter 11, 13, 7 or any other number they want to pull out of a hat... If you file Bankruptcy protection it would be required at that mangnitude to have a trustee in place appointed by the Judge in Federal Court who would then control all of the money coming in and going out.

    There would be a freeze on everything. No one would get a check unless it was approved by the trustee.

    Now I have first hand knowledge because I own an enclosed transport company that is located inside of Champion Motor Group. It is my company and the only affiliation I have is that I transport all of their cars. To further state my case, I receive checks on a weekly basis, and transport all of the pre-owned cars they purchase. In the past 48 hours alone, I brought in a 2006 Phantom, 2007 Bentley GTC, 2009 Bentley GTC, 2005 Bentley GT and a 2007 Maserati Quattroporte.

    SO in closing I would say......

    The doors are open, the phones are ringing, cars are being bought and sold, and if you want a great deal on a new or preowned car now is the time to buy and on the flipside, if you are in a financial need of selling your car the CHECKBOOK IS OPEN! Bring your car, they are buying!
     
  8. titanium360

    titanium360 F1 Rookie
    BANNED

    Nov 10, 2003
    3,446
    seth are you a partner in champion?
     
  9. GlobalLambo

    GlobalLambo Formula Junior

    Oct 22, 2006
    408
    Mineola, NY
    Full Name:
    Seth Rose
    I am dear friends of the owners for 10 years and own the trucking company CAT Express located inside the dealership.

    I am not partners with them on the dealership.
     
  10. pballa182

    pballa182 Karting

    Apr 15, 2008
    55
    north jersey
    Full Name:
    Nick
    I was at the turkey run on sunday, I have never seen such an amazing display of cars in one place, aside from the Scarsdale concours. They are open for business.
     
  11. AwesomeM3

    AwesomeM3 Karting

    Sep 22, 2006
    72
    Moorestown, NJ
    Full Name:
    Steve
    +1

    I was there too, and they did have an amazing display of Lambos, Bentleys, etc. It's a beautiful dealership!
     
  12. LAMBOJOE

    LAMBOJOE F1 Rookie

    Nov 2, 2006
    3,190
    Brooklyn NY
    Full Name:
    Joey
    I was there as well with 150 other cars that Participated in the Rally, Doors were wide open.
     
  13. smooth

    smooth Formula Junior

    Nov 4, 2005
    682
    Their doors may be open; but, in this climate you never know for how long. (I too, have heard the rumors). Lamborghini of Orange County was a shocker for most people also. Today, no one is invincible !
     
  14. tuttebenne

    tuttebenne F1 Rookie

    Mar 26, 2003
    3,189
    Bay Shore, NY
    Full Name:
    Andy
    Car dealerships are usually heavily leveraged; they depend on financing to have cars in their possession. I believe the bank lends them what is called "floorplan". This consists of interest and admin costs enabling the dealer to have the car for the purpose of selling it. Every month they don't sell a car they are paying "floorplan" to the bank. When willing sources of financing dry up, so does the dealership, unless they have cash reserves. Well run dealerships have reserves, the ones that don't are usually a "house of cards".
     
  15. JStone414

    JStone414 Formula 3

    Sep 23, 2004
    1,159
    Gotham
    Full Name:
    Roman Sionis
    where there is smoke, there is fire? what's with all the rumors?
     
  16. smooth

    smooth Formula Junior

    Nov 4, 2005
    682
    So true !
     
  17. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    12,313
    At Sea Level
    HMMM... Someone from the dealer posted a spam thread... business must be good...

    Price seems appropriate for last spring...
     
  18. GlobalLambo

    GlobalLambo Formula Junior

    Oct 22, 2006
    408
    Mineola, NY
    Full Name:
    Seth Rose
    I would be careful about making false statements, it's very easy to subpoena a website for the identity of a user.... Defamation suits are a real pain in the ass...

    1. A false and defamatory statement regarding another;
    2. Unprivileged publication of the claim to a third party;
    3. Rising, in the case of matters of public concern, to at least negligence by the publisher, or worse; and
    4. Damages to the subject.

    All the statements regarding bust, bankruptcy, doors closing etc. are FALSE. In fact I have access to the federal courts online which show "NO RESULTS FOUND." Check your sources and get it in writing. Trust me they cannot!

    Enough with the lies and the attempt of slandering another business.
     
  19. titanium360

    titanium360 F1 Rookie
    BANNED

    Nov 10, 2003
    3,446
    seth why are you getting bend out of shape? first off no one here came out and said that they our out of business or filed for chapter 11 for sure and if one member did then deal with him do not generalize. the questions was brought up by a member if this was true. secondly how are you going to sue someone over the internet and proof that account holder is actually the person that logged on and posted anything.
     
  20. GlobalLambo

    GlobalLambo Formula Junior

    Oct 22, 2006
    408
    Mineola, NY
    Full Name:
    Seth Rose
    The post I was referring to was edited and for good reason, secondly, there was a post from "Diablo: They were chapt 11 a couple of weeks ago" FALSE. Another Post from: "Stef430: Have heard the same - Chapter 11 is a reorganization, not a liquidation"

    You see, I am angry because spreading this ill will hurts a business whether it's true or not, just the thought of a potential customer not knowing if it's true or not could sway them from buying a car or even considering the purchase of a car from them fearing the possibility. Put yourself in the shoes of the owner's who have been living with these horrendous rumors and lies for weeks. It's not fair to judge a company on baseless rumors. It's sickening and whomever is responsible should be ashamed of themselves.

    I will never forget the words of my grandmother before she past on, she said, "Seth, if God is good to you he will let you watch" I can only hope that the moron's who are responsible suffer from their attempt to tarnish Champion Motor Group, Bentley & Lamborghini Long Island....

    BTW - its very easy to subpoena the records of a website forum, vbulletin tracks ip addresses and pinpoint where it came from, and I don't think "ummm my dog must have typed that" will hold up in court. Better yet, does anyone want to spend the money to defend such a suit which I guaranty will be very costly. Not that I am suggesting that will be done, but those who post defaming comments should be aware of the possibilities.......

    Moderators: Due to the legalities involved I would suggest closing this thread or completely deleting it, I think everyone 'gets the picture' at this point.
     
  21. ClassicFerrari

    ClassicFerrari F1 World Champ
    Lifetime Rossa

    Jan 7, 2004
    16,798
    Toronto
    Full Name:
    Vasco
    In the end this is definetly sad to see. And not good for any of us :(
     
  22. titanium360

    titanium360 F1 Rookie
    BANNED

    Nov 10, 2003
    3,446
    exactly competition is great for the consumer so one less exotic dealer is not beneficial for anyone but the subpoena story of seth is a bit far fetched. i hope it is all BS anyways
     
  23. smooth

    smooth Formula Junior

    Nov 4, 2005
    682
    I think the government would have better things to do than subpoena the records of idle chatter from a chatline. You are correct; it is far fetched! Calm down.
     
  24. GlobalLambo

    GlobalLambo Formula Junior

    Oct 22, 2006
    408
    Mineola, NY
    Full Name:
    Seth Rose
    Obviously none of you have ever been involved in civil litigation. I for one have been, it's very simple to start an action against an individual and then subpoena the records of anyone involved. Who said anything about the government? If you did not understand the post just simply ask for a better explanation and one will be provided.

    There is nothing far fetched here....

    http://www.internetlibrary.com/cases/lib_case142.cfm
     

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