Credit Lockup Troubles? UPDATED

Maybe it's the credit lockup, and maybe it's not.

The USA's largest Chevrolet Dealer (Bill Heard), which sold 25% of all Chevys sold in the USA last year, just went belly-up.

That would be 14 dealerships, largely in the Mid-South.

Auto dealers live on credit. It finances their inventories, and finances their customers.

UPDATE: Apparently Bill Heard had a number of problems; it's possible that the company's disregard of the law had more to do with the closure than any financial problems.