Ten months after losing its General Motors franchise, Thorstad Automotive in Madison will close July 8 and 67 people will lose their jobs, Thorstad President Thomas S. Thorstad told the state Department of Workforce Development on Friday.
In the notice, Thorstad said the closing, at 1702 S. Park St., would be permanent. All layoffs will be completed by July 30.
Formerly known as Thorstad Chevrolet, the business lost its new car franchise in October, when several hundred dealerships across the country were closed by GM to save money.
Thorstad chose not to fight the decision and in March 2010 said he would remain in the same location as a nonfranchised, independent operation focused on used cars, service and body repairs.
But those operations didn't produce enough revenue to continue, Thorstad said this week.
"Our business was designed for high volume, expert care, franchise sales, service, fleet and parts operations. The loss of these has proven too difficult on our structure," according to a message posted by the Thorstad family on the company's website Friday.