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Market Chatter: America's Car-Mart Seeks Capital to Stave Off Bankruptcy

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America's Car-Mart (CRMT) is working on raising capital to avoid a bankruptcy filing as it sits on the verge of default, Bloomberg reported Wednesday, citing people familiar with the matter.

The used-car seller and subprime lender's banker, Houlihan Lokey (HLI), contacted investors to gauge interest in providing at least $500 million in new capital, the report said, citing one of the people familiar with the matter.

America's Car-Mart didn't immediately reply to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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