Jim Hatheway confirmed Monday that he has entered into a letter of intent to sell his Ford dealership on Robert Angus Drive to Jeff and Terry Taylor of Moncton’s Taylor Ford.
“There are still a few hoops to go through and few things to be completed before then, but we have entered into an agreement,” Hatheway said. “This is not a bad news story, it’s a good news story for Amherst. It shows confidence on their part in the marketplace to step in and make an investment here.”
Hatheway told his 32 staff members last week of his intention to sell the business.
Hatheway came to Amherst in 1992 when he purchased Bill Casey Ford on South Albion Street.
When a fire destroyed the business in a 1997 fire and Hatheway built a new dealership that opened in its present location a year later.
“This was very much a personal decision. I’ve been in the car business for 35 years and 25 years here as a dealer. It was time for a change for me,” Hatheway said. “I have some other business interests that will allow me to stay active, but I guess you can call it semi-retirement.”
Hatheway said he and his wife, Katherine, plan to stay in the community. His wife is presently the chairperson of the Cumberland Health Care Foundation.