7 cars stolen from Philadelphia dealership that has only been open for a week

PHILADELPHIA (WPVI) -- A car dealership open for less than a week in Philadelphia's Mayfair section is on the brink of closing for good after thieves made off with several cars on Wednesday.

"If we don't recover the cars, we probably won't survive it," said Nathan Kriegler, the co-owner of City Motors of Philadelphia. "It could be the start and the end all in the same week."

His building on Frankford Avenue was broken into by a group of people sometime overnight Tuesday into Wednesday morning.

They ransacked his office, stole the keys to seven of the 11 cars on the lot, and made off with them. They also broke into an eighth car and tried to hot-wire it but were unsuccessful.

They also made off with the titles of the cars.

Police are investigating the break-in and thefts, but since the business was so new, security cameras weren't in place. They were supposed to be installed on Wednesday.

"We called our insurance company today, and unfortunately, we only have liability insurance for the vehicles. So, if we don't get the cars back, we have no coverage for the vehicles whatsoever," said Kriegler.

As of Wednesday afternoon, police had tracked down three of the stolen vehicles. Investigators are also looking into whether this is connected to a rash of looting across the city on Tuesday night.

"I mean, what's the point? What is the point of this? Retaliation against something?" questioned Madison Wittenberg, who does social media for the company.

Kriegler doesn't know if he made the right decision opening a business in Mayfair and is calling on officials to crack down on crime.

"I think if I had the choice all over, I would not come to Philadelphia. I think a lot of people are feeling that way," said Kriegler.