iMotors, the USA's first used vehicle etaile founded in 1999, has announced on its website that it has ended operations "due to a lack of sufficient capital to continue to grow the business".

The company gave an 800 number allowing customers who had placed deposits to apply for refunds.

The website also said that warranties would remain valid and be operated by Fidelity Insurance.

The website signed off by wishing customers: "May you never get a flat tyre or run out of fuel."

Meanwhile, Associated Press reported that the closure meant that San Francisco-based iMotors.com's vehicle reconditioning centre in Ohio would shut down.

The company had previously said that its West Chester operation eventually would employ 900.

AP said that iMotors leased the former AutoNation vehicle reconditioning centre just north of Cincinnati a year ago to serve as a beachhead for expansion on the East Coast.

The 187,000-square-foot reconditioning centre, on 25 acres, initially employed about 100 technicians, AP added.


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