LAUREL, Miss. (Sept. 21, 2016) — Wholesale distributor Robison Tire Co. Inc. of Laurel, Miss., is planning to liquidate an estimated $1.5 million in inventory to help settle debts related to its recent Chapter 11 brankruptcy filing and other legal actions pending against it.
Taylor Auction & Realty Inc. is conducting an online auction of the inventory on Oct. 5 and 6 with inspection days set for Sept. 23 and 30 at a former Robison Tire property on Mississippi Route 15 north of Laurel.
The sale has at least one condition: Any Goodyear-brand tires sold must be sold “as is,” with no express warranty from Goodyear or any of its affiliates, according to the terms of a settlement of a contract infringement lawsuit involving the companies.
Robison's problems stretch back to 2008, when the company decided to expand its business operation, both geographically and in volume, according to court filings. By 2011 the company was operating warehouses in Montgomery, Ala., and Nashville, Tenn., in additon to its Laurel headquarters.
In October 2014, Hercules Tire & Rubber Co., one of Robison's two key suppliers, terminated its dealer agreement with Robison, the court filings state. In January 2015, Goodyear declined to renew its dealer agreements with Robison.
The company's dealings with Goodyear led to its being sued by the Akron-based tire maker in 2015 for alleged default of payments.
The parties recently settled the suits out of court, according to the court documents. Goodyear had sought $6.3 million for a number of allegations. According to the most recent court documents, Goodyear has agreed to settle for a minimum of $1.4 million plus one half of any proceeds from the auction above $1.4 million.
TBC Corp. purchased certain assets and selected inventory in late 2015 from Robison's warehouses in Nashville and Montgomery and converted those facilities to Carroll Tire locations.
Robison also sold a warehouse in Laurel in October 2015 to Southern Tire Mart for $4 million, as well as its former “New South Tire” retail facility in Laurel to unidentified buyers for $1.4 million and a retail store in Forrest, Miss., for $300,000, the court documents show.
According to court documents, Joe Dent Robison Jr. is the company's largest unsecured creditor, with a claim of $2.18 million, followed by Hercules Tire, $1.35 million; Western Track & Tire, $1.27 million; and Strategic Import Supply L.L.C., $916,183.
Robison Tire was founded in 1945 in Laurel by Joe D. Robison Sr.