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Paula C. Squires// May 22, 2014//
CarLotz, a used-car consignment business, announced Thursday that it is doubling the size of its flagship store in Chesterfield County. The company also plans more stores in the Richmond region, Virginia Beach, Fredericksburg, Raleigh and Charlotte.
By taking its space up to 3,000 square feet at its Midlothian Turnpike location in Chesterfield, the company will be able to showcase up to 150 vehicles and have room for its growing motorcycle consignment business.
“Even with the opening of our second location on West Broad Street last year, we often find ourselves running tight on space with the continuous consignment inflow from our customers,” CEO Michael Bor said in a statement.
CarLotz also has added staff, including two several customer service people and a recruiting director.
Bor said in an email response to Virginia Business that the company plans to raise additional capital shortly from $3 to $5 million to help fund its continuing expansion.
