Craig Ford/Mercury reopens after being seized by the Colorado Department of Revenue
January 15, 2014
Craig Ford/Mercury opened its doors for business Thursday after facing seizure the day before by the Colorado Department of Revenue.
It was a tense 24 hours, but Jerry Thompson, owner of the auto dealership, said he is relieved and that things are back to normal.
The Department of Revenue seized the business Wednesday morning.
The notices taped all over the business said, "Seized."
On the front door were two documents detailing the reason Craig Ford is in this situation.
"Warning. This property has been seized for nonpayment of taxes, and is now in the possession of the state of Colorado," the sign said.
Recommended Stories For You
The business, at 801 West Victory Way, owed the Department of Revenue nearly $18,000 in taxes, according to the CDOR documents.
The problem, Thompson said was that the business got behind on paying its sales tax.
While Thompson knew they were falling behind, he hadn't gathered the urgency, he said.
"I didn't grasp the situation we were in," he said.
Craig Ford was putting off paying sales taxes while it caught up on other bills, Thompson said.
"Cash flow's been tight. There were things we were letting go to cover the more current bills," he said.
The Department of Revenue gave Thompson a warning Tuesday night, but he wasn't able to get the necessary funds together by the next morning, he said.
He was able to do so by 5 p.m. Wednesday.
"By 5:30 (p.m.) the signs were down, and (the Department of Revenue) was gone," he said. "It was a cooperative effort between the parties."
Thompson said he is confident everything is back on track for Craig Ford.
"We're current with (the Department of Revenue) and everything. We're open for business," he said. "We're just hoping that people won't lose faith" in us.
Contact Erin Fenner at 970-875-1794 or firstname.lastname@example.org.