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The Pub For General Automotive Related Talk |
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26-05-2011, 01:58 PM | #1 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Hey guys,
just a heads up, Denmac ford are closing the doors at 5 pm tonight for good. Staff have all been laid off and told deals over. Just a heads up for anyone whos getting a car serviced there etc, go chase it up quick! Cheers. |
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26-05-2011, 02:07 PM | #2 | ||
Racing improves the breed
Join Date: Apr 2006
Location: SE Melbourne
Posts: 3,982
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Not good news for Ford at all. Tough times ahead it seems.
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1970 Mini Cooper S Historic Group Nc Touring car 1964 Mini Cooper S Historic Group Nb Touring car 2024 Subaru Outback Touring XT Victorian Hill Climb Championship |
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26-05-2011, 02:15 PM | #3 | ||
Regular Member
Join Date: Jul 2008
Posts: 370
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They have 3 locations, which one or all 3.
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26-05-2011, 02:17 PM | #4 | ||
Tickford
Join Date: Dec 2004
Location: Windsor
Posts: 3,966
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All 3, they've gone into receivership.
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26-05-2011, 02:18 PM | #5 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Yes all 3, the receiver was trying to trade on but has apparently decided to pull the pin and lock all yards up tonight, including service / parts.
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26-05-2011, 04:02 PM | #6 | ||
Have Boost, will use it..
Join Date: May 2005
Location: Brisbane
Posts: 4,056
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That is a shame. Just drove past the Indro service centre last night, and they had quite a few cars in there....
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26-05-2011, 04:17 PM | #7 | ||
BIG MEMBER ;)
Join Date: Sep 2009
Location: Sydney, NSW
Posts: 940
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Any cheap deals?
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2010 FG XR6T, EGO, MANUAL, LUXURY PACK.
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26-05-2011, 04:51 PM | #8 | ||
Half an aussie garage!!
Join Date: Nov 2008
Location: Perth
Posts: 351
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Worst thing is that the administrators will now eat up all the money, and the staff will have to get thier money from the government.
Company receivership is legalized robbery (IMO of course!) |
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26-05-2011, 04:59 PM | #9 | ||
Regular Member
Join Date: Jul 2008
Posts: 370
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These days it isn't enough to rely on one or two brands but sell various brands to spread the sales.
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26-05-2011, 05:01 PM | #10 | ||
Regular Member
Join Date: Apr 2008
Posts: 110
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Does this include bremer ford?? I thought denmac owned them?
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26-05-2011, 05:18 PM | #11 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Yes Bremer are gone too..
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26-05-2011, 05:26 PM | #12 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Central Q..10kms west of Rocky...
Posts: 8,308
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Sad times..I hope its not a sign of things to come. New Tezza cann't come soon enough, But when ??? no ads for it ??? Ranger, Focus or FG2 all coming too late. How many other Ford dealers are in a similar situation????
My nearest Ford dealer will be Bryan Byrt, Mt Gravatt. or Metro's Brekky Creek. Westpoint Auto have a service Dept in Monier. 3kms from home...Buying a Holden will be more conveinient for me..sad too say...Lets hope the Denmac workers get the entitlements..Who's buying Denmacs stock????
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CSGhia |
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26-05-2011, 05:43 PM | #13 | ||
Regular Member
Join Date: Jul 2008
Posts: 370
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It isn’t one of those close today and open again next week wiping off most of the debt and employees entitlements?
Last edited by Supercharged; 26-05-2011 at 06:07 PM. |
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26-05-2011, 05:44 PM | #14 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Theres 3 big boys looking at it apparently..
So it may still be taken over, but i doubt the employees will get their entitlements, but they may be re-employed by the new company that takes the sites / stock over. I would say Ford will buy the stock back and farm it out to other dealers or leave it there till a buyer is found. |
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26-05-2011, 05:46 PM | #15 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Quote:
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26-05-2011, 06:10 PM | #16 | ||
Guest
Join Date: Feb 2007
Location: Gods Country
Posts: 16,258
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Serves them right .. RE: My other thread about dad trying to buy a car from two of these dealers !!
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26-05-2011, 06:26 PM | #17 | ||
FF.Com.Au Hardcore
Join Date: Nov 2009
Location: Ipswich, Qld
Posts: 1,354
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Perhaps a little sympathy for the people who've lost their jobs...I highly doubt it serves them right...
It is however, a sign of the times. I am curious how a business that has been operating for 30 odd years manages to end up in this financial position though...
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26-05-2011, 06:32 PM | #18 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Quote:
I agree, at the end of the day theres probably plenty of good people that have worked there for a long period of time and Denmac Ford was probably their life.. Hopefully they will be able to regain employment soon! |
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26-05-2011, 06:34 PM | #19 | |||
FF.Com.Au Hardcore
Join Date: Jan 2005
Location: Northern Sydney
Posts: 1,908
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Quote:
You do realise employees also are priority creditors in any insolvency administration (although secured creditors will jump ahead with what are called "fixed charge assets"). |
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26-05-2011, 06:37 PM | #20 | |||
FF.Com.Au Hardcore
Join Date: Jan 2005
Location: Northern Sydney
Posts: 1,908
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Quote:
A Receiver has a duty to establish a market value for the assets in their control and to sell them for that value. Providing the cars are not encumbered further, and are assets available to the Receiver, he/she will probably boot them to Grays or Manheim Fowles to sell over a period of time to try to protect value. |
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26-05-2011, 06:38 PM | #21 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Quote:
The banks will get a go before anyone else, but the receivers ofcourse! |
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26-05-2011, 06:43 PM | #22 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,922
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Quote:
Its more then likely someone will buy the franchises and they are going to want some stock so they can get things open again pretty soon, but it takes time to do a duediligence on the business, plus Ford have to accept the buyer. |
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26-05-2011, 06:44 PM | #23 | ||
Falcon Unbelievable!
Join Date: Jul 2005
Location: Uncle Henry's Garage
Posts: 382
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Very sad day indeed,
There were some bloody good people in Parts and Service there. I did hear a rumour that Eagers at one point were interested not sure if anything progressed further... |
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26-05-2011, 06:45 PM | #24 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Location: Ipswich, Qld
Posts: 1,354
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Quote:
I saw the article about the floods, but I think for it to be coming out now, this would have been an issue months before the floods hit...? I hope that someone does buy it, and the workers aren't too hard done by as a result of the news - I certainly wouldn't want to be in their shoes...
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----------------------------------------------------- 2012 Focus ST Tangerine Scream Continually having a battle of wits with unarmed opponents. Sez Photo's by Sez |
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26-05-2011, 06:49 PM | #25 | |||
Guest
Join Date: Feb 2007
Location: Gods Country
Posts: 16,258
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Quote:
You don't have to reply on everything you don't agree with Sarah ... |
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26-05-2011, 06:51 PM | #26 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Townsville
Posts: 1,167
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Quote:
I found them great to deal with 4 years ago when I brought the xr6 |
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26-05-2011, 06:53 PM | #27 | |||
FF.Com.Au Hardcore
Join Date: Jan 2010
Posts: 11,357
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Quote:
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26-05-2011, 06:57 PM | #28 | |||
Falcon Unbelievable!
Join Date: Jul 2005
Location: Uncle Henry's Garage
Posts: 382
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Quote:
Their Service and Parts team they are damned good guys and have saved me a lotta $ over the years. Unemployment is never fair nor is it wanted... |
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26-05-2011, 06:59 PM | #29 | |||
Adapt or perish...
Join Date: Jan 2005
Location: Dip!@#$
Posts: 7,954
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Quote:
Slightly off topic, what happened to your Repco job?
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Carless
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26-05-2011, 06:59 PM | #30 | ||
Regular Member
Join Date: Jun 2010
Posts: 327
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They had what I understand was THE very last of the V8's (XE sedan) sitting in the show room for ages. Never registered & susposedly only delivery km's. Any one know what may have happened to this?
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