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LMP Automotive closes on first franchised dealerships

LMP Automotive Holdings Inc. has purchased its first five franchised dealerships — two Kia stores in Florida, and Kia, Buick-GMC and Chevrolet stores in West Virginia. The company, which went public in December 2019, has aspirations to roll up dozens of dealerships.
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Hertz lenders push alternate plan for bankruptcy exit, report says

Unsecured lenders want to convert their holdings into shares of the reorganized company, which could be traded publicly, Bloomberg reported. That would counter a plan to sell the car rental giant to two investment funds for as much as $4.2 billion.
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