GM Forces John Holt to Close Yukon Dealership

By Dave Jordan, NEWS 9

YUKON, Oklahoma -- Another Oklahoma dealership has fallen victim to the General Motors bankruptcy and will be forced to close its doors.

The John Holt Chevrolet dealership in Yukon was targeted for closure by GM despite having its best sales in 10 years. After years of underperformance, GM decided to close the dealership.

"That was my argument with General Motors. We were on our way to doing some great things with this store, but historically it has not performed," John Holt said.

Holt appealed the decision to close his dealership but lost. With another location in Chickasha that's doing much better, he realized it was better to give up on Chevrolet. Holt said he signed a wind down deal with GM that will ultimately lead to the dealership closing.

"If you didn't sign it, and you fought it, you lose in bankruptcy court and you lose all your rights as a dealer right then," Holt said.

Right now, Holt's lot has 170 new cars for sale. At the current rate, Holt said he believes that supply will be gone in four months, and so will the financial support this dealership gave to schools and charities in Yukon.

"The kids in the area and the family in the area from our community support will feel the loss," Holt said.

Forty people work at the dealership in Yukon. Fifteen of them will transfer to Holt's other dealership in Chickasha.

Even though Holt's Yukon dealership will likely close this fall, GM has given all dealerships until fall 2010 to finalize all business.