Subprime-Focused Car Dealer U.S. Auto Sales Goes Bankrupt

U.S. Auto Sales Inc., a car dealer that catered to consumers regardless of their credit history, quietly filed for bankruptcy late last month as more Americans fall behind on their car payments.

The company listed assets and liabilities of as much as $100 million each in its bankruptcy petition, filed in Delaware. U.S. Auto filed for Chapter 7 protection, meaning a trustee will liquidate its assets.

The car seller, which had several dozen locations across the southeastern part of the country, closed its dealerships amid stresses in the auto finance market in April. The company had previously raised ...