SANFORD, Fla. -- Bill Heard Chevrolet, one of Central Florida's largest car dealers, closed its business Wednesday, leaving more than 300 employees wondering where they'll get their next paycheck.

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The closure of the Sanford-area location is just one of 13 stores Bill Heard Chevrolet closed throughout the country, Wednesday.

"I think it's crazy. They didn't give us any notice, said former employee Matt Shinner.

Central Florida employees were told in a 2:00pm meeting Wednesday that the dealer was facing grave financial problems due to credit troubles, gas prices and slow sales, and would shut down immediately. By 4:30pm, workers were packing up boxes and an employee shut a gate so no one could get on the lot.

"They let us know today it's a done deal," said Rashad Gilchrist. "No heads up. It was, 'Goodbye guys and good luck in the future.'"

The closure affects the entire dealership; new cars, used cars, maintenance and repair shops. Many employees say they simply were given their final paychecks and told their jobs were gone. One said he was "shocked" and worried that it would be difficult to find another job in the ailing car industry.

"The immediate effect of this is terrible with all these people losing jobs. We understand the job market is tough, but now to work somewhere else is even tougher," said former employee C.J. Kinch.

One employee who is being kept on temporarily said ongoing repairs would be finished, as would paperwork from recent sales.

Bill Heard Chevrolet is based in Atlanta and has been operating for nearly 100 years. It was one of General Motors' largest automotive groups. Nationwide, some 3,500 employees are affected.

Customers were also caught off guard.

"Is it scary that a dealership would go out of business like this one?" asked Eyewitness news.

"One as big as this one? Yes it's scary," said Bill Heard Customer Mike Hernandez.

Many employees said they were told the dealership was okay. They said the economy played a role, but that some questionable business practices exposed last year also was a factor.

"The shady dealings, we all pay the price for that," said former employee Steve Mulford.

University of Central Florida economist Sean Snaith said it's too early to determine how big of an impact the closing will have on Central Florida. He believes with the federal government trying to help Wall Street and big creditors, the struggling car industry will recover.

"It's not just a bailout of Wall Street. This has impact on consumers, it has an impact on our economies and its impacting us right here in Central Florida," Snaith said.

A General Motors spokesperson told Eyewitness News it's likely the used cars on the lots will go to auction and the new cars could be bought back by GM.