Auto dealership in Elwood closes doors for good

The dealership owner, Jerry Kutche, has been looking to sell the business since March 2013 for several reasons. At 66 years old, he said he was ready to retire and didn't want to go through with the upgrades to the facility General Motors was requiring for all its dealers. He said he had also started putting more of his own personal money into the business for the past few years.

"Really, I was just ready to retire and tried hard to sell it, but nothing worked out," Kutche said.

Kutche said he had 12 prospective buyers in 2013 when he put the business up for sale and one that made an offer a year later in March. Right before the deal was going to go through, the buyer lost his financial backing and had to call the deal off in July.

"We put a lot of work into the sale, and right at the 12th hour, his backing got cut," Kutche said. "After that, I decided to let Chevy and GM know my plans to close the plant."

News of the closing came as a surprise to Elwood residents and Bill Savage, the city's economic director.

"It was kind of a shock for all of us," Savage said. "This is hurtful for the city of Elwood, and it's not a loss we were expecting."

Savage said the town will become actively engaged in looking for another dealership to com