Like us, the folks at Automotive News have been following the Bill Heard Chevrolet bankruptcy since the surprise announcement last week. Unlike us, it isn't clear they've actually visited one of the locations to get the facts on the ground, given that a story with the headline "Heard's Texas Dealerships Apparently Closed" ran today. The article does add that a woman who answered the phone at the dealership claims it is under new ownership, something we haven't been able to confirm and doubt is true, though it is possible the site will get sold (the land itself is fairly valuable). We've also learned a little more about the company's debt from their bankruptcy filing.
Bill Heard Enterprises appears to owe about $229 million to the companies that financed their inventory, which includes GMAC, BMW Finanicials Services and JPMorgan Chase Bank. This is in addition to taxes owed to various states, as previously reported. As for "apparently closed," we're pretty sure these pictures tell the story for themselves. [Memphis Daily News; Automotive News (Sub. Req.)]