What is An ATD ‘Critical Vendor’ and What Does it Mean to You?
If you’re a Tire Pros dealer or part of the ATD network, we’ve answered a few common questions you could be asking about how ATD’s critical vendor filing may affect your business.
Top 30 Creditors ATD Owes
American Tire Distribitors’ top 30 creditors, many of which are tire manufacturers, are combined owed over $600 million from the nation’s largest tire distributor.
ARI Reveals Plans for 50 Below Upgrades
Last August, after facing years of mounting tax debt, tire dealer website developer 50 Below filed Chapter 11 bankruptcy. Subsequently, in November, a bankruptcy court judge approved the sale of the Duluth, Minn.-based company’s assets, with its "retail division" – the dealer website operation side – being sold to Milwaukee-based ARI Network Services for $5
Judge Approves Sale of 50 Below’s Assets
A U.S. Bankruptcy Court judge approved the sale of 50 Below’s assets. Its retail division was sold to ARI for $5 million, while its financial services division was sold to Emerald Connect for $3.5 million.
Pep Boys Buys Big 10 Tires
Philadelphia-based Pep Boys, which recently wrapped up the purchase of seven Big O Tire stores in the Pacific Northwest, has purchased the 85-store Big 10 Tires Chain in the southeast. Terms of the transaction were not disclosed. “This acquisition furthers our stated strategy to grow through service and tire centers,” said Mike Odell, Pep Boys
Last Part of GPX Finds a Buyer
GPX International Tire Corp. says it will sell off its solid tire operations and Chinese plant to a group of investors and former GPX management. The Malden, Mass.-based tiremaker and importer said last Friday that it had a “definitive sale agreement” with the group. The transaction will include the MITL, ITL and Brawler brands, as
Court Orders Review of China OTR, Ag Tire Duties
Last year’s ruling by the U.S. Department of Commerce that slapped often huge antidumping duties on certain OTR and farm tires imported from China will get another look. On Sept. 18, the U.S. Court of International Trade ordered the Commerce Department to review its ruling and the countervailing duties it applied to a host of
Hayes Lemmerz Files Reorganisation Plan
Hayes Lemmerz International has a plan….a reorganisation plan, that is.
Magna to Rescue GM Europe
The car parts manufacturer Magna International has agreed to a deal rescuing GM Europe from insolvency.
Hayes Lemmerz Removed From NASDAQ
As of May 21, wheel manufacturer Hayes Lemmerz International common stock has been delisted by the NASDAQ Stock Market and trading suspended as of the opening of business.