Car Auction Firm Reports Nearly $19 Million Tricolor-Linked Loss

ACV Auctions Inc., a firm known for online car sales, said Monday that it lost more than $18 million last year as a result of the bankruptcy of subprime auto lender Tricolor Holdings.

The report is the latest sign of the damages from the collapse of Texas-based Tricolor, which fell apart after bankers uncovered red flags in the collateral backing its auto loans. A handful of banks have acknowledgedtaking a hit from the bankruptcy, including Fifth Third Bancorp, JPMorgan Chase & Co. and Barclays Plc.

Read More: Tricolor’s Frantic Final Days Began With a Call ...