---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-029491"
form_type: "8-K"
ticker: null
cik: "0001759008"
company_name: "CarLotz, Inc."
filed_at: "2022-11-10T23:59:59+00:00"
generated_at: "2026-06-21T23:20:07.270464+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CarLotz closes three hubs; expects $1.4M-$2.2M in impairment and severance costs

## Summary
- Closing Chesapeake (VA), Denver (CO), and Huntsville (AL) hubs; retail sales end Nov 10, all activities by Dec 2, 2022.
- One-time severance costs of ~$100,000; non-cash lease asset impairment $300K-$800K; fixed asset impairment $1.0M-$1.3M.
- Additional charges for contract termination and workforce reduction still under evaluation; amendment to follow.
- Disclosure updates beneficial ownership as of Oct 27, 2022, in connection with pending Shift Technologies merger.

## SEC filing metadata
- accession: 0001628280-22-029491
- form_type: 8-K
- cik: 0001759008
- company_name: CarLotz, Inc.
- filed_at: 2022-11-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 2.06, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759008/000162828022029491/0001628280-22-029491-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759008/000162828022029491/ck0001759008-20221110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-029491
- JSON: https://secwatch.observer/filing/0001628280-22-029491.json
- Plain text: https://secwatch.observer/filing/0001628280-22-029491.txt

## Key facts
- Restructurings & Charges
  CarLotz, Inc. announced a impairment with charges of $1.0 million to $1.3 million affecting Chesapeake, VA; Denver, CO; and Huntsville, AL hubs.
  - Type: impairment
  - Charge: $1.0 million to $1.3 million
  - Affected area: Chesapeake, VA; Denver, CO; and Huntsville, AL hubs
  source text: one-time non-cash charges of $1.0 million to $1.3 million associated with the impairment of other fixed assets
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759008/000162828022029491/0001628280-22-029491-index.htm
- Restructurings & Charges
  CarLotz, Inc. announced a restructuring with charges of approximately $100,000 affecting Chesapeake, VA; Denver, CO; and Huntsville, AL hubs.
  - Type: restructuring
  - Charge: approximately $100,000
  - Affected area: Chesapeake, VA; Denver, CO; and Huntsville, AL hubs
  source text: The Company expects to incur 1) one-time severance costs of approximately $100,000, 2) one-time non-cash charges of $300,000 to $800,000 associated with the impairment of lease assets, and 3) one-time non-cash charges of $1.0 million to $1.3 million associated with the impairment of other fixed assets.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759008/000162828022029491/0001628280-22-029491-index.htm
- Restructurings & Charges
  CarLotz, Inc. announced a impairment with charges of $300,000 to $800,000 affecting Chesapeake, VA; Denver, CO; and Huntsville, AL hubs.
  - Type: impairment
  - Charge: $300,000 to $800,000
  - Affected area: Chesapeake, VA; Denver, CO; and Huntsville, AL hubs
  source text: one-time non-cash charges of $300,000 to $800,000 associated with the impairment of lease assets
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759008/000162828022029491/0001628280-22-029491-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.