Alan Jay Automotive Network in June sold two dealerships in Florida to two different buyers — stores it previously had planned to sell majority stakes in to LMP Automotive Holdings Inc. Alan Jay Automotive, of Sebring, Fla., on June 27 sold Alfa Romeo-Maserati St. Petersburg in Pinellas Park to Qvale Auto Group, which kept the
LMP Automotive Holdings Inc., which this month fired its CFO, plans to sell a Stellantis dealership in New York and has hired BofA Securities to help it seek strategic options for its auto retail business. The small publicly traded Fort Lauderdale, Fla., retailer disclosed July 15 that it had signed an agreement to sell its
Group 1 Automotive Inc. has acquired three dealerships and a collision center to expand its presence in Louisiana. The stores are expected to add $110 million in annual revenue. The auto retailer said Monday that it bought Mercedes-Benz of Shreveport, Jaguar-Land Rover Shreveport and Holmes Volvo Cars, also in Shreveport. The seller was Holmes Auto
An LMP Automotive Holdings Inc. shareholder has filed a lawsuit seeking class-action status against the fledgling auto retailer after the company disclosed last month that it would have to restate financial statements for three quarters of 2021. Chris Nguyen filed the lawsuit Friday in U.S. District Court in Florida, alleging violations of federal securities laws
