SEEK PERMISSION TO DISSOLVE AUTO COMPANY
Submitted by Peggy A. Wells
The dissolution of the Chesapeake Chevrolet Company of Chesapeake, this county, and the complete winding up of its business, was asked in a suit filed in the Lawrence county court of common pleas Saturday by J. B. Rich, sole owner, of Huntington, W. Va.
It is pointed out by Mr. Rich that the Chesapeake company is a branch of his Huntington Chevrolet agency and that it was organized solely by him without any outstanding stock.
The Chesapeake branch has recently become involved in debt to such an extent that the plaintiff considered liquidation of the assets and liabilities of the Chesapeake company as not only advisable but necessary. As a result of which Mr. Rich points out that in order to avoid further obligations and losses he took over all the assets and liabilities and paid off all the branch’s obligations.
The purpose of the incorporation of the branch has wholly failed and now exists in name only.
The court action is brought thru A. R. Johnson law office.
Ironton Tribune, 17 April 1932, Sunday, Page 6.