Big 10, which is owned by Sun Capital Partners, said it has “adequate cash to continue paying for the day-to-day goods and services it needs to operate.” The bankruptcy filing, the company added in a statement, will allow the chain to “improve its capital structure and reduce debt, … getting the business back on a growth track.”

The company said its stores, which total 101 total throughout Alabama, Florida and Georgia, will continue to operate as usual during the reorganization. It said it intends to ask landlords for rent concessions at some locations.

“We strongly believe that volume levels and premium product sales will return as the economy picks up, and as an outgrowth of the successful reorganization of the Company,” said Don Kennemer, CEO. “At this time, we are intensely focused on continuing to serve our customers well, and working closely with our vendors to build the business.” (Tire Review/Akron)