Waukesha-based Darrow Automotive Inc., which its creditors are trying to force into Chapter 7 bankruptcy, has no financial affiliation or business relationship with the Russ Darrow Group, according to a statement released Tuesday by Menomonee Falls-based Darrow Group.
Darrow Group, founded in 1965, operates 15 new car dealerships in the Fox Valley and southeastern Wisconsin, a used-vehicle finance company, and a nationwide fleet and leasing company. It is owned by Chairman and CEO Russ Darrow Jr., and his youngest son, Mike Darrow.
Darrow Automotive, which operates dealerships in Illinois, North Carolina and Georgia, is owned by Russ Darrow III.
"While it is extremely unfortunate that my eldest son, Russ Darrow III, is dealing with severe financial difficulties in his own business, it is equally important to differentiate his company from our Wisconsin car dealership group that I started 44 years ago, the Russ Darrow Group," Darrow Jr. said in a statement.
Darrow Group, which has over 500 employees "is very healthy," the statement said.