The world’s top-selling Chevrolet dealership group has closed its doors at its 30 stores. Bill Heard Enterprises Inc. is closing its doors due to the obvious situations including high gas-prices, canceled floorplanning from GMAC, sluggish SUVs and pickup sales and the economic situation of the nation. You can kind of say the company is like the Lehman Brothers of the dealership world.
The company notified the 13 store general managers today at 2pm according to a source familiar with the situation. The closings affect about 2,700 employees in Alabama, Florida, Georgia, Nevada, Tennessee and Texas, the company said.
“The company had worked to develop and implement a strategy and a course of action that would enable it to operate successfully,” the company said in a statement. “However, the conditions necessary to sustain the business through the current challenges were not present.”
Source: Automotive News (Subscription Required)