We've lost one...

[Bob Denman]

:shocked: According to this disturbing news, Rusty Palmer's is going to be gone...

http://thetimes-tribune.com/news/business/bank-foreclosing-on-rusty-palmer-properties-1.1910282

There have been rumors floating around for about a year; this is the first credible piece of information that we can safely pass along to everybody else...

It was a GREAT place! nojoke

[Chupaca]

there are not enough as it is...:banghead::banghead:

[BajaRon]

When you spend your future, it doesn't always come back to you in a timely manner.

Very sorry to see it.

[Trbayth]

Can you summarize it Bob? I don't do paywalls.

[Bob Denman]

He owes the bank over 7 million dollars...
The auction will be in September...
At one point in time, he was a franchised dealer for:
Arctic Cat
Honda
Kawasaki
Suzuki
Yamaha
Can Am
Ski Doo
Sea Doo


About the only brands he didn't have were Harley, Victory, and Polaris/SlingShot... They were just up the road about 3/4 of a mile...

[900Dave]

I have heard of Rusty Palmers and heard of them being a pretty reputable dealer. Some lose and some gain.

When I purchased my Spyder we had two dealers. 25 and 40 minutes away. That was just 1-1/2 years ago. Now we have FOUR to choose from and the newest one is just 15 minutes north. I may give them a try the next time after I get my ST back from repairs for my deer collision. Schaeffers HD opened up a Schaeffers motor sports across the street from the HD dealer. They sell KTM, Spyders and Can Am off road vehicles.

[wyliec]

:shocked: According to this disturbing news, Rusty Palmer's is going to be gone...

http://thetimes-tribune.com/news/business/bank-foreclosing-on-rusty-palmer-properties-1.1910282

There have been rumors floating around for about a year; this is the first credible piece of information that we can safely pass along to everybody else...

It was a GREAT place! nojoke


Does all their product go to other dealers, or is the general public allowed into the auction? I'm not in the market, but just curious. I guess I'm not sure if properties means product.

[Bob Denman]

I don't know what will happen; Tango is going to keep an eye out for news on exactly when it'll be, and what the rules are... :thumbup:

[Tango]

All I know at this point, Sept.16 is the date. Rusty has vowed it will not go to auction. Can Am. and Honda are the only ones that haven't pulled their franchises yet. Very few used bikes, 3 Spyders on the floor. All prior year bikes are gone that I can see. Over 100,000 sq. ft.. Just way too big. Three floors. He was offered 5 million for the building and property and turned it down. :dontknow: Besides the 7.2 million he owes. They have foreclosed on another property worth 5 million that was used for collateral. I really hope he pulls the proverbial rabbit out of the hat to save the business. Rusty is very personable and loyal to his employees. A great all around guy. :thumbup: Tom :spyder:

[Bob Denman]

:agree: Besides the loss of a dealership; he employed a lot of folks...:shocked:
Those jobs will be sorely missed!

[beast68]

I was there yesterday and was told that they are relocating and not going out of business.

[Marker]

Does all their product go to other dealers, or is the general public allowed into the auction? I'm not in the market, but just curious. I guess I'm not sure if properties means product.

Under the franchise agreement with BRP ,all brand new uncrated vehicles will go back to BRP. I don't know how BRP does it but they always get their product back from bankruptcies.
Anyway its going to be hard to sell any BRP product when the product is barred from using B.U.D.S to get the product programmed.
All BRP does is enter the serial number of the product in their computer and when the product is brought in to a dealer for programming and is hooked up to B.U.D.S ,once the computer identifies the product that BRP has forbidden to be programmed ,B.U.D.S will not program it and will actually lock it out of the system preventing anyone from programming the product until BRP lets the product be programmed.
Other dealers will have an opportunity to buy Rusty's unused inventory at a great discount from BRP. The public will not be allowed to buy new uncrated stock.

[Bob Denman]

I was there yesterday and was told that they are relocating and not going out of business.

Did you ask them where? :dontknow:

[beast68]

They are looking for another building somewhere in Honesdale.

[Bob Denman]

Maybe Rusty can get some space at his Brother's trucking business?? :dontknow: