BAKERSFIELD, Calif.(KBAK/KBFX) — Tricolor Holdings, also known as Ganas Holdings, has filed for Chapter 7 bankruptcy, according to court documents. The filing, made on Sept. 10, reveals the company owes more than $1 billion and has assets estimated between $1 billion and $10 billion.
At the Ganas Auto location in Bakersfield, the establishment appears abandoned, with closed doors and locked gates, leaving many customers uncertain about their next steps.
Reynaldo Franco and his wife, who purchased a car from Ganas Auto earlier this year, are among the worried customers. Back in June, Franco took his car to the dealership because his transmission wasn’t working. After almost two months of his car not being fixed, he went down to the dealership and discovered they were closed. “We were waiting to get a notice, but like we’ve got no notice,” Franco said.
He was told by a mechanic, “‘We’re shut down, they close this down, we’re out of business.'”…