Classic auto parts company files for Chapter 11 bankruptcy
The provider of auto parts for classic and discontinued automobile models files for bankruptcy.
As the Covid-19 pandemic began to settle down in 2020, both new and used car dealers had an increase in business from customers using their government stimulus checks as down payments on vehicles.
With more people seeking to buy vehicles, new car lots began to have shortages of vehicles as automobile manufacturers faced limited production from supply chain challenges and temporary shortages of auto parts. Those challenges reduced both inventory and sales through 2021.
