Auto Knight

Bill Heard Enterprises, Inc. Files For Bankruptcy Protection

by Darren

Bill Heard Enterprises, Inc., which is the largest U.S. Chevrolet dealership has sought bankruptcy protection. The company said the move was a result of declining U.S. auto sales, and comes one week after they shut down 14 show rooms and fired 3,200 employees.

This could be the sign of things to come as the U.S. has one of its’ slowest years for selling automobiles. High gas prices and lack of consumer credit have made most motorists continue to drive the car they currently own.

Sales volume nationwide is thought to be the lowest this year since the early 1990s.