ACV Auctions discloses $18M outstanding loan to customer that files Chapter 7 bankruptcy

ACV Auctions Inc.

Customer of ACV Capital filed Chapter 7 bankruptcy; $18M aggregate principal outstanding under floorplan credit line.
Borrowings secured by vehicles; company assessing collateral status and valuation for any doubtful receivable provision.
Loss amount and financial impact uncertain at this time; ACV plans to pursue all available remedies.

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