KAR Announces Temporary Travel Restriction
Proactive Precaution Implemented to Protect the Health and Safety of Employees
KAR Auction Services Inc. d/b/a KAR Global (NYSE: KAR) announced today it has suspended all employee air travel through March 31, 2020. This temporary precaution is being implemented in response to the COVID-19 coronavirus outbreak and is aimed at mitigating the spread of the disease and protecting the safety of the company’s 15,000 employees across North America, the United Kingdom and continental Europe. The company emphasized this temporary precaution is being taken proactively, and not in response to any heightened or specific threat of exposure or spread of the virus across its 200 operating locations and communities.
“Safety is always one of KAR Global’s highest priorities, and this includes protecting the health and wellbeing of our employees, their families and the communities in which we live and work,” said Jim Hallett, Chairman and CEO of KAR Global. “While reports on the extent of the outbreak and the severity of infection have been inconsistent, there is no question the virus is capable of impacting large populations and geographies. We’re committed to doing whatever we can to help reduce the risk of exposure and any further spread of this virus.”
The travel restriction includes cancelling KAR’s participation in several upcoming industry events as well as in-person customer visits and meetings requiring air travel. The company’s operating locations, including their 74 physical auctions remain open for business and will continue to host commercial and dealer consignment sales as scheduled. Dealers may also continue sourcing and selling inventory through KAR Global’s online and mobile marketplaces, including ADESA.com, TradeRev, Simulcast and the more than 40 private label websites the company hosts on behalf of its consignors.
“To be absolutely clear, we remain fully operational and open for business,” continued Hallett. “But we continue to monitor this evolving situation and will strictly adhere to any federal, state and local measures or mandates. Should any locations become locally impacted, we have contingency and business continuity plans in place to mitigate any disruption to our business. And our online and mobile app marketplaces will continue to provide dealers a digital alternative to attending sales in-person.”
The company encourages dealers to visit www.KARglobal.com for updates and check www.ADESA.com for any changes to physical auction sales and schedules.
