Auto dealership group shutters and lays off hundreds, including Bradenton employees

Palm Beach County-based used car retailer Off Lease Only has shut down its five Florida dealerships and laid off 466 employees after failing to find a buyer and filing for bankruptcy.

The closures include a dealership at 3230 14th St. W. in Bradenton. According to a letter to the state, 49 employees lost their jobs at that store.

Off Lease Only, which refers to itself online as “one of the highest volume used car dealerships in the U.S.,” filed for bankruptcy in Delaware on Sept. 7. According to the initial filing, it had $100 million to $500 million in assets and $100 million to $500 million in debts. Its creditor matrix, a spreadsheet of sorts detailing who it owes money to, runs 155 pages, each listing about 60 creditors.