Last Pete Ellis Car Dealership Closed
Pete Ellis, once one of Southern California’s most successful automobile dealers, on Wednesday shut down his last remaining dealership.
Citing “unwarranted maneuvering†by the Ford Motor Credit Co., Ellis closed Pete Ellis Ford in Bellflower only three months after receiving $700,000 in loans and grants from Bellflower city officials.
Ford Motor Credit also loaned Ellis $300,000, and Ellis kicked in about $150,000 of his own money to keep the operation alive. The dealership provided the city with about $300,000 to $400,000 a year in sales tax revenue.
“Ford Motor Credit made certain written commitments to this company and to the city of Bellflower in order to induce their (Bellflower’s) assistance,†Ellis wrote in a memo that was distributed to stunned employees on Wednesday. “The representations made by (Ford) were breached from the outset.â€
Ford Motor Credit could not be reached for comment.
In February, Ellis was forced by Chrysler Credit Corp. to close his three South Gate dealerships. At the time, he said he owed Chrysler Credit about $12 million.
