Shore, 61, took over from his father, Bill Shore, when he died in 1978. Bill Shore started at the dealership as a controller and eventually accumulated all the shares.
Ford Motor Co. owns the property at 3931 S. East St., which makes the closure "pretty painless," Mike Shore said.
Shore said he doesn't know what he will do next.
"This happened so fast, I haven't thought about it," he said.