Written by: Bekz 11/26/2009 10:00 AM
FENTON, Michigan -- Unable to pay off millions of dollars in debt to GMAC, everything that once made up the Joseph Pontiac car dealership in Fenton soon will be awarded to the highest bidder.
Everything from rotary lifts to office furniture will be auctioned off by BCL Auction beginning at 10:30 a.m. on Dec. 8. Bidding will take place at the former dealership, 16555 Silver Parkway in Fenton, or via a live Internet Web cast.
“The dealer is no longer in business,” said GMAC spokesperson Tony Sapienza. “When we claim assets, typically that’s the way we liquidate them.”
Local car dealer Joe Hood was given notice in September of $7 million in mortgage payments, inventory and long-term notes owed to GMAC. Unable to meet GMAC’s demands, Joseph Pontiac — a Fenton dealership since 1996 — has sat empty for months along the city’s main retail route.
Hood still owns a Ford dealership in Grand Blanc Township and a Chevrolet dealership in Millington.
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