Bill Heard Enterprises Inc., the biggest Chevrolet dealer in the country, said Wednesday it is closing its 13 remaining dealerships, saying it cannot survive in the current frail economy. High gas prices and an inventory full of slow-selling trucks and SUVs weren’t helping either.
The Columbus, Ga.-based company said in a statement it tried to avoid the dealership closures, which will affect about 2,700 employees, reports the AP and the Detroit News.
"However, the conditions necessary to sustain the business through the current challenges were not present," the statement said.
The company also cited the ongoing banking and financial crisis as part of its demise.
Bill Heard Enterprises Inc. was the single largest chain of Chevrolet dealerships in the country, said GM spokeswoman Susan Garontakos. The company had five dealerships in Georgia and eight in five other states — Alabama, Florida, Nevada, Tennessee and Texas.
GM will honor all Chevrolet warranties at other nearby dealerships.
"GM dealers are responsible for managing and financing dealerships," Garontakos said.