Add another luxury sports car dealer to the growing list of companies filing for Chapter 11. The latest auto dealer is Champion Motors, which declared that it had between $10 million and $50 million in debt and a similar range for assets.
The bankruptcy petition is filed under the name Copans Motors, doing business as Champion Motors, at 500 W. Copans Road. The petition does not state which divisions of Champion Motors are involved in the bankruptcy. A Web site for the Champion Motors Group at the same address states that the company includes the world’s largest Porshe dealer.
The Champion Motors Group’s Web site said the company’s Champion Motorsports division has locations in 20 states besides Florida, in South American countries and eight other foreign countries. U.S. locations are in Virginia, Texas, Tennessee, North and South Carolina, Pennsylvania, Oregon, Ohio, New York, New Mexico, New Jersey, New Hampshire, Massachusetts, Kentucky, Illinois, Connecticut, Colorado, California, Arizona, Alabama.
(Source) MSN Money
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