Dave Sinclair Lincoln Mercury St. Peters Inc. has filed for bankruptcy and plans to pursue a restructuring process, but the company said all of its 47 employees will keep their jobs, and there will be no interruptions to paychecks or to primary vendor payments.
The Dave Sinclair Automotive Group operates multiple dealerships in the region. The Chapter 11 bankruptcy filed Monday only affects the St. Peters dealership. A contract dispute with a Texas company, Dealer Computer Services Inc., prompted the bankruptcy filing, according to Sinclair. Dealer Computer Services has a judgment against the dealership for $860,257, plus interest. In the filing, the dealership lists both its estimated assets and liabilities ranging between $1 million and $10 million.