Off Lease Only, a used car dealership, files for bankruptcy and shuts down all locations
Off Lease Only, a popular used car dealership with locations in Florida, has filed for bankruptcy and closed its stores due to inventory scarcity, vehicle price inflation, supply chain disruptions, and declining new vehicle production. The company has voluntarily filed for Chapter 11 protection to pursue an orderly wind down of its business. Elevated pricing, rising interest rates, and weakened consumer demand have further contributed to the challenging conditions in the automotive retail market.