COLUMBIA -- Creditors of Joe Gibson Automotive and Joe Gibson Auto World could have an opportunity to question the owner of the now defunct dealerships during bankruptcy hearings today.
Gibson filed for Chapter 11 bankruptcy protection on July 16 with more than 100 pending lawsuits alleging fraud. Gibson's attorney said the dealerships sold four cars between filing and when the businesses closed on Aug. 2.
The lawsuits stemmed from a series of Joe Gibson commercials claiming people could lease a Suzuki for monthly payments between $47 and $99.
Bill McCarthy, an attorney representing Gibson, said during a bankruptcy hearing in Columbia on Thursday that Gibson is trying to find a buyer for the dealerships.
Following the hearing, McCarthy said Gibson has received "expressions of interest" from a potential buyer. McCarthy said the sale of the business would allow Gibson to have more cash for creditors, increase the potential for employees to return to work and allow the service center to reopen.
George Cauthen, an attorney representing American Suzuki, said the manufacturer is trying to work with the dealer and supports an expedient sale of the business.
Joe Gibson Automotive, at 489 W. Main St., operates as Joe Gibson Mitsubishi. Joe Gibson Auto World, at 630 Hampshire Drive in Gaffney, operates as Joe Gibson Suzuki.
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