Maloney Ford Prepares To Close

DEALERSHIP TO SHUT DOWN AFTER 29 YEARS

The lot at Bob Maloney Ford in Rogers holds only a few cars Wednesday.
The lot at Bob Maloney Ford in Rogers holds only a few cars Wednesday.

— Christmas is bittersweet for one Rogers business — Bob Maloney Ford — as the dealership prepares to close Dec. 31.

Roughly 50 employees will be paid through the end of the year, but most have already vacated their offices. A handful of essential staff remain to help owner Bob Maloney wind down operations.

Maloney said locking the dealership doors is the toughest job he can recall in the 29 years he’s run the business.

“We are like a family. A few of my employees were here before I bought the dealership and others have worked here for decades. My son, Bubba, was set to take over the business when I retired. Now that’s not an option,” Maloney said.

He is working to keep the body shop open even after the dealership closes.

“If we can, it will save a few jobs,” he said.

Maloney confirmed the major reason for the dealership’s closure is the stagnant economy of the last couple of years.

He said Ford would not budge from the $2 million floor plan credit line, which they reduced from $8 million a few years ago. (A floor plan credit line is the standard method for financing inventory for auto dealers.)

Maloney did not engage in wholesale fleet operations, but relied on retail sales, hindered by tighter credit and higher unemployment.

“There are too many dealerships to serve this market size,” he said. “The small dealers are usually the ones sacrificed.”

Bob Maloney Ford is one of three family-owned Ford dealerships in Benton and Washington counties. Dunn & Bradstreet estimates Maloney’s dealership rings up about $20 million in annual sales. This compares with $70 million Dunn & Bradstreet reports for Lewis Ford Sales Inc. — Lewis Ford in Fayetteville and Springdale Ford. Landers McLarty Ford & Jeep in Bentonville also reports about $20 million in annual sales, according to Dunn & Bradstreet.

Ford Motor Co. shrunk its dealership base from 4,400 franchises in early 2006 to 3,787 at the end of 2008, according to company filings with the Securities and Exchange Commission.

In a March 2009 filing, Ford announced plans to trim another 2 percent, or some 80 dealerships by the end of this year.

Maloney bought the dealership at 1902 S. Eighth St. in Rogers in 1981 from his father-in-law, the late Clyde B. Randall, owner of Randall Ford in Fort Smith. He said the main showroom and office building are still owned by Randall Ford.

“It’s a sad day for Rogers as this landmark corner will be soon be vacant,” said Rogers Mayor Steve Womack. “Wherever there was a need, Bob Maloney and his staff could be found helping. This business had a name brand affiliation with deep local ties to the community. Their closing leaves a hole that won’t be easily filled.”

Womack said Maloney formerly served as the board chairman for the Rogers-Lowell Chamber of Commerce and has been a staunch supporter of the local schools and youth sports organizations.

News of the dealership’s closing was made public two weeks ago and since that time, the majority of new Ford vehicles on the lot have been transferred to other dealerships. Used cars were sent to auction, leaving about five new Lincoln models that will be turned back to Ford unless they are sold in the next week, Maloney said.

A scaled-down service department staff has been busy with longtime customers seeking one last tune-up, Maloney said.

Paul Dunnaway and Joe Coffield, salesmen at the dealership, said Wednesday they have not landed other jobs, but plan to pursue other employment despite being close to retirement age. For the next week the men will continue working along side Maloney as the dealership’s operations come to halt.

“I have bought five personal vehicles and two business vehicles from Bob Maloney Ford over the years. They could be trusted to stand behind their word. It’s incredibly sad to this family break up,” said Sean Ingram, loyal customer and employee of Lowell.

As for Bob Maloney — the man — retirement is not in his immediate future, he said.

“I will take a little time and look at my options, but this is a business I have loved, and it pains me to let it go.”

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