News Alert: Top Sydney Dealership Bankrupt?

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Breaking news: Unconfirmed reports suggest massive Sydney car dealership Rick Damelian Group has gone into receivership.

Based in Leichhardt/Petersham on Parramatta Rd in Sydney’s southwest, Rick Damelian Group is multi-franshised for the sales and service of new Alfa Romeo, Citroen, Fiat, Honda, Renault, Skoda and Suzuki vehicles.

A source revealed to CarAdvice there is a security guard standing at the front of one of the showrooms, which is closed.

CarAdvice attempted to contact the dealership this morning but was met with an after-hours recorded phone message – despite the fact that the message says the dealership group is open from 7:30am to 6pm Monday to Friday.

A representative from the Rick Damelian Honda service department answered our call, but said he was not in a position to comment.

CarAdvice spoke with Edward Rowe from Ateco Automotive – the company responsible for the distribution of Alfa Romeo, Citroen and Fiat – but he also said he could not comment on the issue.

The Rick Damelian Group was founded in November 1978 by current chairman and managing director, Rick Damelian. Mr Damelian is renowned as a colourful identity in some circles.

CarAdvice will update this developing story when more information comes to hand. Stay tuned.

Read CarAdvice's editorial on the Rick Damelian downfall.