American Car Center shutters all locations
MEMPHIS, Tenn. (WSFA) - Used car company American Car Center on Friday abruptly closed all 50 of its dealerships across several states.
Nearly 300 workers were laid off at company’s headquarters in Memphis, Tennessee, according to WMC. Companywide, employees reportedly learned the news via email just hours before the shutdown.
The company, which allowed customers to get approved quickly regardless of credit history, sought financing to continue operations a day before the announcement, the station reported.
In Alabama, ACC operated dealerships in Birmingham, Dothan, Florence, Huntsville, Mobile, Montgomery, Pelham and Tuscaloosa. There was activity at the Montgomery site on Monday but calls to the dealership were unsuccessful.
ACC’s website directs customers to continue making payments to American Financial per the terms of the agreement. Payments can be made online or by calling 1-877-720-4477.
York Capital Management, a New York-based hedge fund business and owner of American Car Center, did not respond to a request for comment.
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