The Detroit auto dealership Riverside Ford Sales Inc. closed on Feb. 28 after 33 years in business.
Owner Nathan Conyers is trying to sell the dealership and has several interested buyers, said Taso Theodorou, general manager of Jaguar of Novi. Conyers also owns Jaguar of Novi Inc., which opened last April.
Theodorou said the economic slump affected sales at Riverside. Theodorou was unable to provide additional financial details.
In 1997 the dealership reported $40.3 million in sales, according to a 1998 Crain's story.
Conyers' Jaguar dealership is thriving, Theodorou said.
Brent Snavely writes for Crain's Detroit Business, a sister publication of Automotive News.