**Nation’s biggest Chevy dealer closes dealerships **
Nation’s biggest Chevrolet dealer closes down all dealerships, cites unfavorable economy
September 24, 2008: 06:00 PM EST
NEW YORK (Associated Press) - Bill Heard Enterprises Inc., the biggest Chevrolet dealer in the country, said Wednesday it is closing its 13 remaining dealerships, unable to survive in a weak economy with high gas prices and an inventory heavy on trucks and SUVs.
The Columbus-based company said in a statement it tried to avoid the closures, which will affect about 2,700 employees.
“However, the conditions necessary to sustain the business through the current challenges were not present,” the statement said.
The difficult sales environment was made worse by the ongoing banking and financial crisis, it said. GMAC Financial Services last month discontinued credit for new inventory for some of the company’s dealerships.