January 28, 2009
A statement has been issued from Toyota of Augusta regarding the reports of bankruptcy filing. The following is the text of that statement:
"We are negotiating a sale of assets transaction for a single dealership that is subject to a number of contingencies without a specific closing date. Some creditors were concerned abouty payment of outstanding obligations and "jumped the gun" and filed an involuntary petition in bankruptcy. Upon the transaction closing, we have every expectation that the obligations to creditors will be paid. In any event, creditors will be paid before any owners will receive any of the proceeds of the company's assets. We will continue to be open for business selling and serving vehicles and satisfying customer needs."