Top Chevy Dealer Group Closes, Points to Credit Issues

Bill Heard Enterprises, which was the 11th largest automotive dealership group in the country in 2007, will close the doors of all its locations today.

Thirteen Chevy dealerships in Alabama, Florida, Georgia, Nevada, Tennessee and Texas will close today. There was no news of the company’s Saab and Cadillac businesses. The company — which dubbed itself “Mr. Big Volume” — points to credit problems and the down economy for the closings. After clearing more than $2 billion in revenues in 2007, the group’s CEO, Bill Heard Jr., pointed to customers’ inability to secure loans.

He also pointed to an internal fault of not adjusting to a floundering economy quickly enough. According to the company’s website, Heard employs 3,500 people.

Bill Heard closing its doors today (ledger-Inquirer.com)