The Paddock (www.paddockparts.com) was an online and mail order parts distributor that had been supplying restoration parts and accessories since for Mustang, Camaro, Dodge Charger, Chevelle, MOPAR, Challenger, Ford trucks, and Chevrolet truck since 1965. The company, which was located near Knightsville, Indian, floundered recently and closed its doors for good on April 30, 2010.
The Paddock former owner, Wes Watts, had hopes to restructure the business, however the firm was forced into bankruptcy by its largest secured creditor, Main Source Bank. An auction for the companies assets was announced an executed by Key Auctioneers. However, before the gravel fell for the first lot of goods, Key Auctioneers and Main Source banks had agreed to sell off a large quantity of Chrysler Mopar and Ford Mustang parts as well as the Paddock’s trademarks, databases, vendor list, customer list, and website domains. Key Auctioneers declined to provide the purchase price, but called it a “substantial sum”. Other companies hoping to purhcase assets and domains were surprised that Main Source Bank moved so quickly to off load the Paddock intellectual property which included a database of nearly one million customers. General Marketing Capital and Main Source Bank wrapped up the deal nearly one month before the July 29th auction.
Despite the purchase it is unlikely customers and or suppliers with whom the former company was in debit to will receive any proceeds from the sell. In a letter to creditors the company’s attorney, Gary Hostetler, stated “The company has no income remaining or assets with which to satisfy vendor debt”. It is unlikely that GMCI or their subsidiaries Classic Industries and OER Parts Groups will assume any of the debt.
Their is no word yet, when customers main again purchase under the Paddock name, and the web domains www.paddockparts.com and www.musclecarparts.com remain closed. General Marketing Capital (GMCI) www.gmcilicensing.com)) is the licensee for Yenko branded Chevrolet Camaro parts. The company also owns muscle car parts retailer Classics Industry and the wholesale private label brand OER Parts.
The Classic Industries (www.classicindustries.com) was founded in the 1972 and offer parts and accessories for 1967-92 Camaros including the all new 5th Generation Camaro, 1967-2002 Firebird & Trans-Am, 1958-1996 Impala, Caprice, Bel Air, & GM Full Size models, 1959-60 El Camino, 1947-2008 Chevy & GMC Truck, 1962-79 Chevy II / Nova and 1960-76 MOPAR A-Body, B-Body and E-body models.
Their counterpart Original Equipment Reproduction (www.oerparts.com) was founded in 1985. They import and wholesale restorations products for GM vehicles including Chevrolet Camaro, Pontiac Firebird and Trans-Am, Chevy II, Nova, Chevrolet Impala, Biscayne, Caprice, Bel Air, Chevelle, GTO, Cutlass, Corvette, early Chevrolet & GMC trucks, Dodge and Plymouth vehicles: Barracuda, Belvedere, Charger, Challenger, Coronet, Dart, Duster, Satellite and more! They have more than 10,000 individual part numbers in the OER inventory, cover nearly every facet of car restoration including gauges, interior soft trim, carpet, sheet metal, moldings, emblems, dash components, fuel and exhaust, weatherstrip, steering and suspension, car care products and much more.
Classic Industries contact information:
18460 Gothard St.
Huntington Beach, CA 92648-1229