Vroom (VRM) Discontinues E-commerce Used Vehicle Operations

Vroom, Inc. (VRM) announced that it is discontinuing its e-commerce operations and shutting down its used vehicle dealership business to preserve liquidity and optimize stakeholder value.Vroom is a parent company of CarStory and Unites Auto Credit Corporation (“UACC”). Both CarStory and UACC will keep serving third-party customers.The company is suspending transactions through vroom.com as per the Value Maximization Plan approved by its board of directors. It plans to sell its current used vehicle inventory ...