no avatar

Credit crunch puts brakes on Bristol Peterbilt operation

Sharon Caskey Hayes • Nov 6, 2008 at 12:00 AM

BRISTOL, Tenn. — Plans to build a Peterbilt store in Bristol, Tenn., are on hold.

Greg Arscott, spokesman for the Baltimore-based The Pete Store Inc., one of the nation’s largest truck dealers, said the company delayed the project due to problems with the acquisition of property.

“We were in a due diligence process on a piece of property which fell through for numerous reasons, and that coincided right around the same time that the credit markets failed. So we decided to err on the side of caution and put the project on hold,” said Arscott.

He said the company still plans to eventually open a store in Bristol, Tenn.

“But in the next six months, we won’t have a presence there. But certainly we still have plans to be moving there at some point in time,” Arscott said.

The Pete Store Inc. announced in August it would build a new dealership along Interstate 81 in Bristol, about two miles south of the Tennessee/Virginia border at Exit 74.

At the time, the company said the project would create as many as 25 full-time jobs and provide service, parts, sales, financing and insurance services in the Tri-Cities market.

The company said Bristol was chosen because of its central location, extensive labor resources, and outstanding visibility on Interstate 81.

The Pete Store Inc. is a Peterbilt dealer group with full-service locations in Maryland, Virginia, Tennessee, South Carolina and Georgia.

An exclusive dealer of Peterbilt trucks, the company offers a full range of services including parts, service, body shop, leasing, rental, financing and insurance.

For more information, visit www.thepetestore.com.

Recommended for You

    Kingsport Times News Videos