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Bank Forecloses on Big Dog Property

Big-Dogs-Sheldon-Coleman

photo courtesy of Motorcycle-USA.com

The Wichita Eagle is reporting that Intrust Bank filed suit this month seeking to foreclose on Coleman and several of his corporate entities, saying in the suit that it is owed nearly $20 million on six different loans. The bank seeks to foreclose on the bulk of the former Big Dog Motorcycles property at the northwest corner of Douglas and Hydraulic.Big Dog Motorcycles shut down as a new motorcycle manufacturing business in April 2011 after five years of declining sales. Coleman restarted a much smaller business, BDM Performance Products, in one of the warehouses on the site.One of the provisions that Coleman negotiated with Intrust was to hold off on foreclosing on the property for two years so he could try to sell it.

The company saw annual growth as high as 80 percent. In 2005, at the height of its popularity, the company had more than 300 workers and more than $120 million in revenue. That year, Coleman bought 106 acres on Greenwich Road for a future plant but never built it.    Read the complete story

 

 

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