America’s Car-Mart received another extension through Sept. 11 to work through its debt obligations after first-quarter 2027 numbers this week showed the BHPH company had a 57.3% year-over-year drop in revenue.
Driving the news: America’s Car-Mart, based out of Arkansas, received a pair of extensions in June from Silver Point Finance, LLC, and other lenders to avoid default.
The latest amendment expired Sept. 4, and America’s Car-Mart received an extension through September 11 to “allow the company additional time to evaluate the alternatives available.”
When asked, the company told CDG News that the extension “represents the additional time to enable the Company to continue discussions with prospective counterparties, as the Company and its advisors remain actively engaged in that process.”
Relevant context: America’s Car-Mart closed or consolidated 60 stores in the past year, dropping its number of dealerships from 154 to 94.
In October 2025, the company took out a $300 million loan from Silver Point.
Car-Mart reported in its recent financial filing that its outstanding debt was $623.9 million.
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Loss in revenue: In the opening quarter of its 2027 fiscal year, which ended July 31, Car-Mart reported total revenue of $145.8 million, down 57.3% vs. last year.
Its inventory was also down from $112.5 million to $35.2 million.
Car-Mart’s retail sales dropped 81.9% compared to last year, with 2,450 vehicles sold.
Similarly, customer count was down 18% from 104,691 to 85,753.
“This is a capital structure story, not a demand story. Application volume was limited by the vehicles we had available to sell,” said President and CEO Doug Campbell in his commentary.
Looking ahead: Car-Mart continues to work with creditors and its special committee to “evaluate a full range of financing and strategic options available.”
In its report, the company stopped short of predicting an outcome of its efforts, stating…
“The Company cannot assure, however, that the review of strategic and financing alternatives will result in any transaction or other outcome favorable to the Company or its stockholders or that the Company will be able to secure additional financing on acceptable terms, or at all.”
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