A Florida-based used car dealership with five locations in the state has closed down.
Off Lease Only filed for Chapter 11 bankruptcy this week and terminated all of its employees. No word on an exact number of employees who were let go.
Off Lease Only had locations in West Palm Beach, Fort Lauderdale, Miami, Orlando and Bradenton.
In a statement, the company blames 'unprecedented changes to the automotive retail landscape.' They say higher prices for vehicles brought on by supply chain issues and hiking interest rates are making it difficult for people to buy used cars.
According to reports, workers will receive at least two paychecks and any remaining earned commissions.
Customers with questions can email CustomerInquiries@OffleaseOnly.com.