Financially troubled Doll & Doll Motor Company, which operates Rob Doll Nissan in Columbus, filed for Chapter 11 bankruptcy protection late last week.
The company listed between $10 million and $50 million in estimated liabilities and between $1 million and $10 million in assets, according to documents on file with the U.S. Bankruptcy Court, Middle District of Georgia.
It was filed Thursday. Chapter 11 bankruptcy is often used by businesses to restructure debt.
Doll & Doll Motor President Rob Doll said Monday morning he doesn’t know where his companies go from here, but he added, “We’re still in business. We’re still servicing cars.”
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The company has about 25 employees in Columbus, Doll said.
Another Doll company, Sowega Motor Company, owns the Cadillac, Pontiac and Buick dealership in Americus, Ga. It is not part of the bankruptcy filing, Doll said.
Both stores have dwindling new and used car inventories because Nissan Motor Acceptance Corp., which finances the inventory for both locations, cut off financing for additional inventory in the spring.
This is the second recent bankruptcy filing involving companies controlled by Doll.
Three subcontractors working on the construction of the new Rob Doll Nissan dealership in North Columbus forced the holding company that owns the property into U.S. Bankruptcy Court Aug. 31.
The filing came on the eve of a foreclosure sale of the store and 14 acres of property at Whittlesey Road and Whitesville Road. Nissan Motor Acceptance Corp is seeking payment from RWD Real Estate LLC of $9 million for the property under construction at 1725 Whittlesey Road.
Doll currently operates a Nissan store on Box Road, but was planning to move to the new location.
The bankruptcy filing was involuntary on RWD Real Estate LLC.
Columbus-based Phillips Construction had been the general contractor on the $6.8 million facility. Construction was stopped in May because the contractor had not been paid since March, owner Larry Phillips said.
The most recent bankruptcy came after an emergency meeting of the Doll & Doll Motor Company board of directors, according to court documents.
“In the judgment of the board, it is desirable and in the best interests of the company, its creditors, members, employees and other other interested parties,” to file for bankruptcy, the board resolution stated.
The largest creditor on the list of unsecured claims was Falcon Financial of Connecticut for more than $30,000. The top local companies on the list were CB&T for $10,000 and WTVM for $7,268.