Modern Dealer Business Development With Colin Thomas Bdcolin

Today, the 750 employees of Off Lease Only, LLC found themselves unemployed . After nearly 20 years in business, OLO in an internal memo stated 1. What is Off Lease Only announcing today? Is Off Lease Only going out of business? Yes, Off Lease Only ("OLO" or the "Company") has initiated an orderly wind down of its business. Over the coming weeks, we will be taking various steps to responsibly shut down our operations and liquidate our assets. We anticipate the wind down will take approximately 30 days to complete. 2. How did Off Lease Only end up in this situation? As most of you know, unprecedented changes to the automotive retail landscape over the last few years resulted in unanticipated challenges and competitive pressures for independent used vehicle dealers. We have been significantly impacted by the scarcity of inventory and inflated prices stemming from disruptions in the supply chain. Elevated pricing and rising interest rates have further deteriorated conditions in the automotive retail market, weak