Owner: Most of Dealership’s Inventory Stolen, Unlikely to Survive
A New Car Dealership in Philadelphia Faces Devastating Loss as Majority of Inventory Stolen in First Week
A new car dealership in Philadelphia has been hit hard by thieves, losing more than half a dozen cars in its first week of operation. The owner, Nathan Kriegle, expressed his despair, stating that the loss may be too much for his business to recover from.
Kriegle emphasized the significance of losing so many cars in a city known for its rising crime rates. He acknowledged that if the stolen vehicles are not recovered, it could spell the end for his dealership.
Adding to the blow, the car thieves not only took off with seven cars but also managed to obtain the titles, increasing their chances of legalizing the thefts.
Police are investigating the break-in and thefts, but since the business was so new, security cameras weren’t in place. https://t.co/mupotsvua5
— Action News on 6abc (@6abc) September 28, 2023
Unfortunately, the dealership’s lack of surveillance systems worked in favor of the thieves, as there is no video evidence to aid in their capture.
Furthermore, Kriegle received disheartening news from his insurance company. He discovered that the dealership only had liability insurance for the vehicles, leaving them with no coverage if the cars are not recovered.
Reflecting on the situation, Kriegle expressed regret about choosing Philadelphia as the location for his business. He believes that many others share his sentiment, as the city’s crime rates continue to soar.
Although three of the stolen vehicles have been recovered by the police, they sustained some damage in the process.
The Drive reported that the dealership’s location has a troubled history, with City Motors being the latest owner in a series of changes since 2015. Additionally, the dealership is situated in Philadelphia’s Mayfair neighborhood, which experienced looting on the same night as the car theft.
Philadelphia is just one example of a Democrat-run city facing a surge in crime rates. The city’s murder rate has skyrocketed, despite strict gun-control laws.
It seems that Mr. Kriegle has learned the hard way that businesses are not welcomed in Philadelphia. Even major companies like Target have faced similar challenges. Until voters demand change, this trend is likely to continue.
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The post Majority of Dealership’s Inventory Stolen in First Week of Business, Owner Says He ‘Probably Won’t Survive It’ appeared first on The Western Journal.
What strategies can entrepreneurs employ to ensure they have comprehensive insurance coverage for their businesses and protect against potential financial losses
Ce, Kriegle is unsure if his dealership can bounce back from this devastating loss. The damage to his reputation and finances is immense, leaving him with little hope for the future of his business.
In response to this incident, local authorities have pledged to increase security measures in the area. Police are urging business owners to invest in surveillance systems and take other precautionary measures to protect their assets. The thefts highlight the necessity for businesses to prioritize security from the very beginning, especially in high-crime areas like Philadelphia.
The incident also brings attention to the importance of comprehensive insurance coverage for business owners. Kriegle’s reliance on liability insurance alone has put him in a precarious position. It serves as a reminder for entrepreneurs to carefully consider their insurance options and ensure they have adequate coverage for all possible scenarios.
This unfortunate event serves as a cautionary tale for new businesses entering the market. While Philadelphia may offer potential economic opportunities, it is crucial for entrepreneurs to thoroughly research the location and consider the security risks associated with operating there. Crime rates and other factors should be taken into account to make informed decisions about business ventures.
The local community has expressed sympathy for Kriegle and his dealership, with many voicing their support on social media. Some have suggested setting up fundraising campaigns to help alleviate the financial burden caused by the thefts. This support demonstrates the resilience and unity of the community in the face of adversity.
As law enforcement agencies continue their investigation, Kriegle remains hopeful that more of the stolen vehicles will be recovered and that the perpetrators will be brought to justice. However, the path to recovery for his dealership will be long and arduous. In the meantime, he plans to implement enhanced security measures and explore options for additional insurance coverage.
The loss of the majority of inventory in the dealership’s first week paints a grim picture for its future. This incident serves as a reminder of the challenges that new businesses face and the importance of careful planning, security measures, and comprehensive insurance coverage. Kriegle’s story should serve as a warning to aspiring entrepreneurs and a call to action for authorities to take steps to address rising crime rates in cities like Philadelphia.
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