A Granville County company that reconditioned used vehicles and then sold them to auto dealers for resale will close its doors Friday, Oct. 18, resulting in the loss of 59 jobs, according to paperwork filed with the N.C. Department of Commerce.

A.I.M. Recon was formed in July 2023, according to paperwork with the N.C. Secretary of State office, and was located in the town of Oxford, about 30 miles northeast of Durham, near the Virginia state line.

“This closure is a result of our ongoing financial challenges that have made it impossible for us to meet our obligations and repay our debts. Despite our best efforts to navigate these difficulties, we have found ourselves unable to secure the necessary resources to continue operations,” company human resources manager James Moyers wrote to the Commerce Department in the filing. Moyers did not return a phone message seeking additional comment.

Twenty-five of the 59 workers were let go on Friday, Oct. 4. The remaining 34 will lose their jobs on Oct. 18, according to the paperwork.

A.I.M. operated out of a former tobacco production facility, according to an Auto Remarketing report last year.

Granville County had an unemployment rate of 3.8% in August 2024, compared to 3.3% a year earlier. North Carolina’s overall unemployment rate in August was also 3.8%.