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Home » Cerberus-owned used-car dealer files for Chapter 11 bankruptcy

Cerberus-owned used-car dealer files for Chapter 11 bankruptcy

The dealer is at least the second large used dealer to file bankruptcy this year

Bloomberg NewsbyBloomberg News
September 8, 2023
in Sales & Marketing
Reading Time: 1 min read
0
Subprime auto bondholders face possible first hit in decades

Photographer: David Paul Morris/Bloomberg

Off Lease Only, a used-car dealer majority owned by Cerberus Capital Management LP, has filed bankruptcy and said it plans to wind down its business because of “unprecedented changes to the automotive-retail landscape.” The Florida-based company and its affiliates filed Chapter 11 on Thursday, listing assets and liabilities each of between $100 million and $500 […]

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Tags: Auto Dealer ActivitybankruptcyPremiumused vehicles
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