Iconic auto repair chain franchise files Chapter 11 bankruptcy
The auto repair chain franchise seeks Chapter 11 bankruptcy protection to reorganize.
Automobile parts and service centers have faced many of the same challenges that other retail sectors have dealt with in the last year, including rising costs of labor and products driven by inflation, increased interest rates on debt, and fierce competition in attracting business.
As interest rates and inflation began to rise following the Covid-19 pandemic, consumers began to shy away from buying cars, and many chose to instead spend a lot less money on repairing their vehicles.
