Car-Mart to close 42 dealerships, lay off staff

2026-04-08 10:37:42

America’s Car-Mart Inc. announced it will close 42 dealerships and lay off staff due to market challenges impacting its ability to establish a “non-recourse revolving warehouse credit facility.” The closures will reduce the company’s total dealerships from 136 to 94 across 12 states by April 14, affecting about 31% of its store count but only 18% of its customers. This decision follows a significant third-quarter loss of $76.71 million and is intended to protect the company’s $1.5 billion finance receivables portfolio and ensure long-term health.

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