Mitsubishi dealership to close in Fort Collins

FORT COLLINS — The Mitsubishi dealership at 2712 and 2839 S. College Ave. in Fort Collins will close Feb. 8 and remaining employees laid off.

The dealership had about 15 employees, and half of those have already left, according to published reports. New cars left unsold will be dispersed elsewhere in the company, and used cards will be auctioned.

Local representatives told BizWest that they had been instructed not to comment about the closure. The dealership is owned by the Tom Wood Automotive Group, based in Indianapolis. John Wood, a vice president of the multi-dealership, multi-state organization, did not return calls for comment.

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The Mitsubishi dealership is among the smallest new car dealerships in Fort Collins and reportedly sold 250 new cars last year. The closure will mean that the nearest Mitsubishi dealerships to Fort Collins will be Longmont or Denver.

Wood Colorado RE LLC, which has an Indianapolis address, is listed as the owner of both parcels. The 2712 S. College parcel was purchased in 2013 for $775,000, and the 2839 S. College parcel across the street was bought in 2014 for $1.85 million, according to Larimer County property records.

The Wood Automotive Group touts its 50 years in business on its website. It has 18 dealerships and 15 brands in multiple Indiana locations; Bloomington and Richfield, Minn.; Nashville, Tenn.; Wichita, Kan.; Lexington, Ky.; as well as the lone Colorado location in Fort Collins. In addition to cars, the company has an aviation division, body shops, leasing/car rental division, and motorcycle and outdoor equipment divisions.