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Seems likely

And bankruptcy appears more and more likely for Carvana, at least evidenced by the way its bonds are trading. According to data from Bloomberg, Carvana’s corporate debt issue maturing in 2029 is trading at just 32 cents, distressed levels that are often associated with an imminent bankruptcy filing.

Yeah, bonds at 32% are on of those little signs……

1 thought on “Seems likely”

  1. It’s not just the finance. Carvana has a long and extensive history of failure to comply with state laws regarding the buying and selling of used cars, including timely registration, transfer of titles, and all sorts of other compliance issues. Right now, the Carvana operation in Michigan has been shut down entirely by the state’s Attorney General for repeated, willful and ongoing violations of state auto sales regulations and consumer protection laws. Kind-of hard to operate any business, let alone a successful one, when you run such a shoddy operation that the state is forced to shut you down. And the fancy car vending machine, right beside I96 at Novi Road – Empty. Their flagship brand identifier now tells everyone driving by that they’re out of business.



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