Tricolor Auto Files for Bankruptcy and Suspends Operations
Originally Published 4 months ago — by Bloomberg
Tricolor Holdings, a US-based used car seller and subprime auto lender focusing on undocumented immigrants, filed for Chapter 7 bankruptcy with liabilities between $1 billion and $10 billion, listing 25,000 creditors including major banks, and is expected to have its assets sold by a court-appointed liquidator due to its inability to restructure debt.