Denny Hecker issued this press release on Nov. 21:

Twin Cities businessman Denny Hecker announced today that he has sold three of his dealerships and closed six additional dealerships effective immediately. The shutdown of the dealerships has resulted in the layoff of approximately 400 employees.

"The decision to realign our dealerships came as we found ourselves in the midst of a 'perfect storm' of economic bad news: a financial crisis on Wall Street, chaos in the housing market, consumer confidence at an all-time low and the sight of the Big 3 on their knees in Washington asking for a bailout loan," said Hecker. "We needed a new business model built around our dealerships with the most potential volume and value. Going forward, our management team will immediately focus on those remaining dealerships and on developing a new business model, one that delivers our customers less hassle, greater choice and more bang for their buck."

The new Denny Hecker Automotive Group is open for business as usual and consists of two Toyota dealerships, three Hyundai dealerships, one Cadillac Pontiac GMC dealership and one Chevrolet dealership:

• Brainerd Hyundai

• Brainerd Toyota

• Inver Grove Heights Toyota

• Los Angeles Hyundai

• Pine City Car & Truck City

• Southview Chevrolet

• St. Cloud Hyundai

• Stillwater Cadillac Pontiac GMC

The dealerships that have been closed are:

• Blaine Bargain Lot

• Forest Lake Chrysler Jeep Dodge Mitsubishi

• Monticello Dodge Ford and Mercury Suzuki Kia

• Rosedale Hyundai

• Shakopee Chrysler Jeep Dodge

• Stillwater Ford Lincoln Mercury

The dealerships which have been sold to private investors are:

• Inver Grove Heights Hyundai

• Inver Grove Heights Volkswagen

• Peninsula Dodge

Customers who are affected by the shutdown of the dealerships can contact customer@dennyhecker.com or call toll-free 888-836-8383 for more information.

For more information, please contact Jon Austin at 612-839-5172 or jon@jaustingroup.com.