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Slemons Investments

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BUSINESS
January 3, 1992 | JOHN O'DELL, TIMES STAFF WRITER
James B. Slemons, the financially ailing car dealer who recently lost his landmark Mercedes-Benz dealership in bankruptcy, has placed another business in bankruptcy to prevent one of his luxury residences in Orange County from being sold today at a foreclosure sale. Slemons Investments, a firm that owns the 10,000-square-foot home in Newport Beach's exclusive Harbor Ridge community, on Thursday filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Act. The filing in U.S.
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BUSINESS
January 3, 1992 | JOHN O'DELL, TIMES STAFF WRITER
James B. Slemons, the financially ailing car dealer who recently lost his landmark Mercedes-Benz dealership in bankruptcy, has placed another business in bankruptcy to prevent one of his luxury residences in Orange County from being sold today at a foreclosure sale. Slemons Investments, a firm that owns the 10,000-square-foot home in Newport Beach's exclusive Harbor Ridge community, on Thursday filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Act. The filing in U.S.
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BUSINESS
October 3, 1991 | JOHN O'DELL, TIMES STAFF WRITER
The proposed sale of Jim Slemons Imports to Las Vegas-based Fletcher Jones Management Group for $11.5 million was rejected Wednesday in federal bankruptcy court, leaving the fate of one of the nation's largest Mercedes-Benz dealerships in doubt. The ruling by bankruptcy Judge John Wilson came at the end of a nearly four-hour hearing during which attorneys for Newport Beach-based Slemons Imports and its chief creditor, Tokai Credit Corp., argued unsuccessfully for the sale.
BUSINESS
December 12, 1991 | JOHN O'DELL, TIMES STAFF WRITER
The sale of venerable Slemons Imports to the Fletcher Jones Management Group of Las Vegas was completed Wednesday, nearly four months after Orange County's oldest Mercedes-Benz dealership declared bankruptcy. Fletcher (Ted) Jones Jr., a principal of the 12-dealership Jones chain, will serve as general manager of the new Fletcher Jones Motor Cars--which will continue to do business as Newport Beach's only Mercedes dealership in the former Slemons facility.
NEWS
August 10, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Jim Slemons Imports, ranked the nation's eighth largest auto dealer with $110.2 million in revenue last year, filed a Chapter 11 bankruptcy petition Friday as part of a plan to stabilize its sagging finances while it seeks a buyer. Malcolm McCassy, Slemons' general manager, said Slemons is seeking at least $15 million for the Mercedes-Benz franchise and that there are "at least four written offers on the table that we are considering."
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