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Tom Hogan Motors

GalwayShark · 2009-06-25 08:51:12

What will happen to all the cars now? Will they be auctioned off?

25-06-2009 9:51am

#1

GalwayShark

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What will happen to all the cars now?

Will they be auctioned off?

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Comments

#2 25-06-2009 9:56am

death1234567

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GalwayShark wrote: »

What will happen to all the cars now?

Will they be auctioned off?

I imagine they will be in time. Liquidator will have to assess all assets and debts and see how much money the creditors can be paid. The whole thing seems a bit fishy to me though, Hogan must have been cleaning up during the good times and then he has a bad 9 months and it all goes tits up? Surely his debt wasn't that big...

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#3 25-06-2009 10:05am

Run_to_da_hills

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death1234567 wrote: »

I imagine they will be in time. Liquidator will have to assess all assets and debts and see how much money the creditors can be paid. The whole thing seems a bit fishy to me though, Hogan must have been cleaning up during the good times and then he has a bad 9 months and it all goes tits up? Surely his debt wasn't that big...

Already posted, the group had several million invested in a proposed commercial property development in Ennis that never happened.

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#4 25-06-2009 9:41pm

crosstownk

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New cars (unregistered) which are on finance will be credited back by the manufacturer/distributor. If used cars were on a finance stocking scheme then they will be auctioned off.

I've had plenty of previous dealings with Tom Hogan Motors in the past and found them professional. This has only made the media because of the number of staff but it's only the tip of the iceberg for dealership closures in 2009 as another thread describes. I have heard many rumours about quite a lot of other dealerships and I can only hope that most of the rumours are unfounded but in the current climate it's most likely that the rumours will, unfortunately, prove to be true.

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#5 25-06-2009 9:58pm

leeroybrown

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There's plenty of good information in the other two threads:

- Actual Garage Closures in 2008 (Motors)
- Tom Hogans - Gone into voluntary liquidation (Galway City)

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This discussion has been closed.