AutoNation is returning $77 million in US payroll assistance coronavirus relief loans

Associated Press AutoNation Inc , the largest US auto dealership chain, said on Friday it will return $77 million it received in forgivable loans from the US Paycheck Protection Program (PPP) meant to help struggling small businesses and employees during the coronavirus outbreak. Marc Cannon, a spokesman for the company, told Reuters that AutoNation was "clearly eligible and applied on behalf of the 7,000 employees furloughed caused by the COVID-19 crisis." On Thursday, the Small Business Admini...