Lexus of Englewood, New Jersey filed for bankruptcy and closed, but a new owner, DARCARS Automotive Group, plans to bring the dealership back to life, according to a March 2 announcement.
DARCARS Automotive Group is headquartered in Bethesda, Maryland, and Lexus of Englewood will be the company’s 23rd dealership when it is rebranded and opens the doors as DARCARS Lexus of Englewood.
The dealership filed for bankruptcy in October 2019, when it was owned by Carmine DeMarino, according to a report by NJBIZ.
With this purchase, DARCARS brings its 41-plus-year history and strength to New Jersey. This is the company’s first dealership in the state, although it also owns car dealerships in Florida, Maryland and Virginia.
“On behalf of everyone at DARCARS Automotive Group, I want to express how much we are looking forward to bringing DARCARS to Englewood and the surrounding communities," DARCARS President and Chief Executive Officer John Darvish, Jr. said in a press release. "DARCARS is a family-owned business and we consider our customers and employees to be part of that family. We are excited to add over 100 new employees and thousands of customers to our family as we embark on a new chapter for DARCARS Lexus of Englewood."
DARCARS Automotive Group is one of the largest dealership groups in the country. It is known as one of the United States’ top-ranked privately owned automotive groups, and was ranked highly by Dealer.com based on 2018 new car sales figures.
It is run by brothers John Darvish Jr., and Jamie Darvish. The company’s dealerships offer service and parts, and collision repair.