According to court records obtained by ABC 4 News, Tueplo Investments LLC filed for bankruptcy in the Utah district of the United States bankruptcy Court on September 3, 2009. The affidavit indicates Timpanogos Harley owes more than $8.6 -million dollars to hundreds of creditors in Utah and across the country.
The dealership moved into this new building at 1600 north and I-15 in Lindon last year. The multi million dollar motor cycle Mecca was made from left over parts from the old Geneva steel plant.
Lindon City welcomed the new dealership that brought a tax base and large crowds of leather clad bikers and even a host of Highway Patrol Troopers for a recent riding competition.
When ABC 4 news did a story on rider safety last spring, owner David Tuomisto indicated that sales of his Harley hogs were brisk.
The bankruptcy filing does not explain what happened, only that Timp Harley Now owes $8.6 million with $8.2- million in real property and personal assets.
The list of creditors includes: $4.3-million to the Harley Davidson Credit Corporation, $650,000 to Holladay Bank and Trust, $149,000 to the Utah State Tax Commission and millions more to hundreds of other businesses and individuals.
Employees told ABC 4 News that owner Dave Tuomisto did not want to comment on the bankruptcy. However the owner of Intermountain Harley in Salt Lake claimed that Far West Bank accepted his offer to buy the building. Owner Joe Timmons said he wants to open another dealership in Lindon in addition to the ones he has in Salt Lake, Park City and Sandy.
Far West Bank confirmed that it acquired the building in a credit foreclosure but would not comment on the conditional sale to the Salt Lake Harley dealer.