Dealership chain closing half its stores, laying off 30% of workforce

A new store in Clearwater is among those shuttered as Virginia-based CarLotz cuts costs.

  • By Louis Llovio
  • | 1:10 p.m. June 22, 2022
  • | 0 Free Articles Remaining!
CarLotz is closing the Clearwater store it opened last year as part of major cost cutting. (Courtesy image)
CarLotz is closing the Clearwater store it opened last year as part of major cost cutting. (Courtesy image)
  • Tampa Bay-Lakeland
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A Virginia based chain of used car dealerships is closing half its stores in the country, including one it recently opened in Clearwater, and reducing its workforce by about 30%.

CarLotz, which sells vehicles on consignment, announced that it is closing 11 stores nationwide and backed out on leases to open an additional three as it looks to cut costs, or as a press release says, “focus on a path to profitability.”

 

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