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Off lease only, a used car dealership based in west palm beach, has closed all of its locations after filing for bankruptcy, putting 466 people out of work in florida. Off lease only announced thursday it voluntarily filed for chapter 11 bankruptcy in delaware A major player in the used car industry abruptly shut its doors after filing for bankruptcy thursday

Former off lease only employees said they were let go wednesday with little warning A used automobile company based in south florida is set to close its business The abrupt bankruptcy of “off lease only” has sent reverberations throughout the used car market and exposed the industry’s susceptibility to unanticipated difficulties

Further investigation reveals the devastating effects this incident has had on both clients and staff, illuminating greater ramifications for the auto industry.

Off lease only, a popular used car dealership, has filed for bankruptcy and closed all of its florida locations, including one in orlando, effective immediately. Offleaseonly, a major player in used cars, appears to be in the process of shutting down after 23 years of business The company owns 5 dealerships in south florida that holds 1500 vehicles in their inventory If you visit their website, their banner states, off lease only is closed to the.

Off lease only has explored a range of strategic options However, industry headwinds coupled with the decreased affordability of used vehicles have necessitated the decision to pursue an orderly.

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