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Automotive parts and service centers faced many of the same challenges that other retail sectors dealt with last year, including high costs of employment and products driven by inflation, increased debt interest rates, and fierce competition to attract business.
As interest and inflation prices began in the wake of the Covid-19s, consumers began to be shy about buying cars, and many chose to spend much less money on repairing their cars.
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Since more people have sought to repair vehicles instead of buying new cars, the post -sales sector faced lower financial impact on the last economic shrinkage, according to a report issued in 2022 by KPMG.
Related: Main truck transport company files, Chapter 11, bankruptcy of restructuring
However, after the report, many auto parts suppliers with huge debt obligations suffered from high interest and inflation prices. Some retailers, such as advanced auto parts, began to restructure off measures outside the court.
Advance Auto Parts, which was running nearly 5,000 stores, revealed in November 2024 that it would launch a strategic transformation, the closure of 727 and independent sites of the company and a large number of employees by mid -2015.
Before Advance Auto reveals a restructuring, many retailers offer auto parts to bankruptcy of Chapter 11, in the face of financial distress.
File of retailers in auto parts for bankruptcy
WHEEL Pros, which works as a distributor of auto and retail retail, has applied for the bankruptcy of Chapter 11, packed on September 9, 2024, to cancel $ 1.2 billion of debt and offer about $ 570 million in the new capital through an exit facility.
Accuride Corp. , It is a pioneering company in the field of wheels and Wheel-End trucks and commercial trailers, and a month later it was provided for bankruptcy protection in Chapter 11 on October 9, 2024, seeking to restructure by mutual consent from its debts to continue working as a continuous task.
Another resource for Northvolt AB, which makes electric car batteries for many car makers, including BMW, Audi, Porsche, Volvo, Polestar and Swedish Truckmaker Scania, were offered to protect Chapter 11 of bankruptcy on November 21, 2024, seeks to reclassify or sell his actions.
Stockholm’s headquarters obtained a bankruptcy order to reject the case of Chapter 11 after she applied to liquidate bankruptcy in Sweden. The plans of restructuring and reorganizing Northfolt failed, and the company said that there was no great hope to recover the battery manufacturer. I decided to continue the liquidation in Sweden in March 2025.
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Aamco Transmissions Futures for Banking
In addition to the auto parts industry, economic issues affected the auto reform sector, as Aamco Transmissions & Total Care CARE in Cincinnati, Trinity Automotive Service LLC, which was presented to the bankruptcy of Chapter 11 on April 29, 2025, to reorganize its business.
Related: Other huge brand files for auto parts for semester 11
The debtor cannot be reached to comment on his plans under bankruptcy, because he did not answer his commercial phone line, and the audio system was not working.
More bankruptcy:
- Restaurant files and the famous bar series to semes 11 bankruptcy
- Followed sports shoes series for 11 bankruptcy
- Prizes -winning cosmetic brand files
The bankruptcy lawyer for the prize prize, Thomsen Law Group LLC, did not respond to the request for the immediate.
The auto reform center, which specializes in transmission reforms and other car services, has included up to $ 50,000 of assets and $ 100,000 to $ 500,000 of obligations in the fifth sub -seam submitted in the American Banking Court of the southern region of Ohio.
The largest creditors of the debtor North Mill Credit Trust include more than $ 194,000; Rapid financing, debtor $ 44,000; And the distinctive capital, debating $ 43,500. The petition also included creditors who have disputed claims, including the internal revenue service and the Ohayu.
The first store of the mother company concession was opened in 1957 in northern Philadelphia as Anthony A. Martino, using Aamco shortcut. The company launched a franchise in 1962 and opened the first franchise store in Newark, New Jersey, in 1963.
Aamco is currently located in Horsham, PA.
Related: Another major health care company files to separate 11 bankruptcy
