Is a Midas Sale on the Horizon?
Midas Inc, with nearly 2,300 franchised, licensed and company-owned shops in 15 countries, announced its board of directors will explore "a range of strategic and financial alternatives to enhance value for stockholders," including "a possible sale, merger or other business combination." As part of its strategic review, Midas will conduct an appraisal of its real
Midas Reports Flat 2010 Profits
Midas posted net sales of $192.4 million for its fiscal 2010, up from FY2009’s $182.8 million. Net profit for the year came in at $2.6 million, dead even with FY2009 results. "The gains in retail sales at Midas shops in the United States that began in the fourth quarter of 2009 continued throughout 2010," said
Midas Eying Expansion, Hires Broker
Putting its money where its mouth is, Midas International has retained business broker Art Blumenthal LLC to help it expand its store footprint in the U.S. Midas already operates some 1,600 company owned and franchised locations in the U.S. and Canada, and over the past few years the company has bought up a number of
Rotors, Resurfacing and the Law: How the Glad/Midas Lawsuit Will Change How You Sell Brakes
After a four-year undercover investigation, the California Bureau of Automotive Repair (BAR) settled the case against Mike Glad, the owner of 22 Midas shops, for charging customers for unnecessary repairs and using deceptive advertising. The $1.8 million settlement also prevents Glad from owning or operating a repair shop in the state. The initial lawsuit sought
Midas Buys Troubled NoCal Franchisee’s Stores
Midas Inc. acquired the 22 Midas automotive service shops in Northern California owned by franchisee Maurice Glad, who had just reached a $1.8 million fraud settlement with the state of California. Two of those locations were then re-franchised to another Midas franchishee. The $5.8 million sale was completed this weekend, and the shops are now
NoCal Midas Franchisee Hit for $1.8M Settlement, Forced to Give Up Stores
The San Francisco Chronicle reported that the state of California reached a $1.8 million fraud settlement with the owner of nearly two dozen Midas Auto Service Centers in Northern California, and have forced the man to give up his stores. The state accused the 22 Midas stores, owned by Maurice Glad, 62, with pushing customers
Midas Reaches Out to Displaced Auto Dealer Employees
(Aftermarketnews.com) Midas Inc. is launching an effort aimed at service customers, dealers and employees of automotive dealerships that are closing.
New Look Coming For Midas Stores
(Akron/Tire Review) Reports say that Midas is working to change its store image and has begun revamping the internal and external look of its stores.
Several tire shops bring home ASE awards in 2023
ASE revealed its 2023 award winners across auto, collision, truck, bus, parts and training sectors for service excellence.
TIA Elects Six New Board of Directors
TIA says the new directors bring expertise across retail, distribution, training and industry associations.
