The local towing service had been targeted to close. Leonard D. Levin, the chain's president and CEO, says the three subsidiaries consistently have been losing money. The closed locations are Dixie Grande Towing in Bradenton, FL and Arrow Towing in St. Petersburg, FL. AutoTow is working with its major secured lender, Finova Capital Corp., to effectively liquidate the two Florida operations. Levin had been Oct. 25 to reorganize AutoTow and push it to a profitable standing.
Effective Dec. 1, Eugene Iarocci has tendered his resignation from AutoTow's board of directors. He remains as COO.
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