Benzinga
2022.06.22 04:17

CarLotz Closes 50% of its Stores to Strategically Focus on Path to Profitability

RICHMOND, Va., June 21, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. ((the "Company" or "CarLotz", NASDAQ:LOTZ), a leading consignment-to-retail used vehicle marketplace, today announced the closure of 11 dealership stores, or "hubs," as part of a strategic review of the business, with cash preservation and future profitable growth as key determining factors. In addition, three locations with executed leases will not be opened.

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