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International Business Times UK
International Business Times UK
Will Lorca

Layoffs Hit 1,000 Workers Weeks After CEO Pocketed $6.25M

Tricolor Donald Trump
Over 1,000 Tricolor employees were placed on unpaid leave on 6 September 2025, three weeks after prosecutors say the CEO received his final $6.25M bonus. (Credit: Tricolor)

A subprime car lender's chief executive is accused of pocketing millions of dollars as his company collapsed, leaving more than 1,000 employees unemployed just weeks later.

Tricolor Holdings placed over 1,000 staff on unpaid leave on 6 September 2025. The company filed for Chapter 7 bankruptcy—meaning liquidation, not restructuring—just four days later.

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