Major tire and auto repair chain closes 145 struggling stores

The automobile tires and wheels aftermarket has faced significant headwinds over the last year, resulting in companies closing store locations, filing for bankruptcy to reorganize their operations, and sometimes selling their business.

Companies facing economic difficulties have cited lingering effects of the Covid-19 pandemic, a decline in consumer demand, supply chain disruption, and increased operating costs driven by inflation as the reasons for taking action to improve their financial situation.