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Payton Wells Chevrolet at 1510 N. Meridian St. was locked this morning, and the two dozen cars on the lot had notices in their windows saying they had been surrendered to National City Bank.
The notices said they were turned over to National City yesterday and could not be removed without the bank’s permission.
Phone calls to the dealership went unanswered.
Earlier today, IBJ reported that Regions Bank has sued Wells for $2.9 million, claiming the dealership owner defaulted on a $3 million loan. The suit, filed Wednesday, said Wells secured the loan with dealerships he operates in Anderson that sell Ford and Chrysler cars.
Wells suddenly appeared at the Anderson dealerships yesterday afternoon and closed them, The Herald Bulletin reported. Cars were positioned to block entrances, and employees carrying boxes were standing in a line at one location, the newspaper said.
However, General Manager Kevin Kimbrough said the Anderson closings were temporary.
Wells is one of few African-American auto dealers in the Indianapolis area.
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