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llinois officials order stay on Carvana’s temporary license suspension -Breaking

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© Reuters. Carvana dealers display vehicles. Customers can buy used cars online. REUTERS/Brian Snyder/Files

(Reuters] – An Illinois Secretary of State office placed a halt to the implementation of the Stay on Carvana Co (NYSE:). A temporary suspension allowed Co to continue doing business in the State under very strict guidelines. This was announced by a state official on Thursday.

Henry Haupt, Illinois Secretary Of State spokesperson, stated that Carvana would need to make a $250,000 guarantee to pay any fees or fines incurred by customers as a result of the retailer not following the law.

Reuters asked Carvana for comments but she did not immediately reply.

Carvana may sell Illinoisans cars during this stay. However, temporary registration permits are not available or plates can’t be issued.

Haupt explained that the title must be registered through Illinois Remitters. They are third-party entities authorized in Illinois to handle title transactions.

This announcement follows nearly one week since Carvana’s Illinois license to sale vehicles was suspended due to mishandled paperwork related its vehicle sales.

Carvana was best known for automating car vending machines. It laid off approximately 2500 employees or 12% earlier in the month.

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