Balzekas Motor Sales Inc. has been selling Chrysler products on the south side of Chicago since 1933. On Thursday, May 14, Stanley Balzekas Jr., 85, learned that it all ends after June 9.
"We have $400,000 worth of parts and $2 million worth of cars," he says. "They don't have financing. Who's going to give us $2 million for the inventory we have?"
Across town, Gregory Mauro was learning that Gregory Chrysler-Jeep in northwest suburban Chicago was being rejected by Chrysler — just nine months after a new $6 million facility had opened.
Mauro, who says he was profitable in the first quarter, had met all of Chrysler's latest facility requirements. Mauro faces the same problems as Balzekas and the other Chrysler dealers who got letters from the UPS driver last week saying Chrysler plans to terminate their dealer agreements.
All 789 have until June 9 to get rid of their new 44,000 new vehicles and their parts inventory and deal with the future of their real estate and the jobs of all the people who work for them.