AutoNation returning $77 million in U.S. payroll assistance coronavirus relief loans [Reuters]
AutoNation, Inc. (AN)
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Source: Reuters
AutoNation returning $77 million in U.S. payroll assistance coronavirus relief loans WASHINGTON (Reuters) - AutoNation Inc ( AN.N ), the largest U.S. auto dealership chain, said on Friday it will return $77 million it received in forgivable loans from the U.S. Paycheck Protection Program (PPP) meant to help struggling small businesses and employees during the coronavirus outbreak. Marc Cannon, a spokesman for the company, told Reuters that AutoNation was “clearly eligible and applied on behalf of the 7,000 employees furloughed caused by the COVID-19 crisis.” He said the company “intended to rehire all 7,000 associates under the PPP program as encouraged by the government and designed to get individuals back to work.” AutoNation has implemented cost-cutting measures, including temporary pay cuts for staff, curtailing of advertising expenses and postponing over $50 million of capital expenditures through the second quarter of 2020. On Thursday, the Small Business Administration issued
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News
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AN
Earnings
- 7/31/24 - Miss
AN
Sec Filings
- 8/27/24 - Form 4
- 8/9/24 - Form 4
- 8/5/24 - Form 4
- AN's page on the SEC website