Group 1 Automotive Reports Aftermath Of Tropical Storm Imelda

2019 OCT 03 (NewsRx) -- By a News Reporter-Staff News Editor at Transportation Daily News -- Group 1 Automotive, Inc. (NYSE: GPI), (“Group 1” or the “Company”), an international, Fortune 500 automotive retailer, announced it has completed a preliminary assessment of damages across its Southeast Texas dealerships in the aftermath of Tropical Storm Imelda.

Despite significant damage to inventory and some facilities due to extensive flooding in the region, preliminary assessments indicate all facilities are intact and operations are open, though some with limited services. Group 1’s Houston stores reopened on Friday, September 20, 2019. Operations in Beaumont are open on a more limited basis, as that area was significantly impacted by the flooding. Total financial damages associated with the storm are estimated at approximately $12.5-15.0 million. This amount includes insurance deductibles for damaged inventory and facilities, and disaster pay for employees.

“Our top priority is supporting our employees in the areas affected by Tropical Storm Imelda. We already know that a significant number of our 300 employees in Beaumont have sustained major personal losses and our hearts go out to all of those affected by this devastating storm,” said Earl J. Hesterberg, Group 1’s president and chief executive officer. “Beyond helping our employees, we are also moving quickly to get our stores fully online to support the community’s needs for replacement vehicles, which includes working with our OEM partners and other Group 1 dealerships to redeploy inventory to restock our operations in Beaumont.” Keywords for this news article include: Automobiles, Business, Group 1 Automotive Inc., Transportation.

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