Advance Auto parts move forward with closing plans about 700 locations and four distribution centers across the United States as part of the Grand Restructuring Strategy, the company has confirmed in its last call.
Zipper, originally announced in November 2024. years, including corporate stores, 200 independent sites, and four distribution centers, and are all cut to imprisonment to mid 2025. Years.
Restructuring and strategic plans for company restructuring
The seller of the car parts, based in Raleigh, north Carolina, implements widely restructuring efforts aimed at simplifying operations and improving financial stability.
Wikictomons / Michael Rivera
“During 2024. We launched transformative actions to re-appointment for the long-term success and performance of value,” Shane O’Kelly, the advance president of the car and the executive director said.
The company concentrates on “basic retail improvements” to achieve “consistent profitable growth”. As part of the overhaul, advanced auto parts are planning to strengthen their distribution network, aimed at only 12 large distribution centers by the end of 2026. years. In addition, the company intends to accelerate the opening of new market nodes, and 60 planned until mid 2027. years.
Despite these strategic moves, the company’s financial prospects have set the investor’s concern. After its 2025 sales instructions, advance stock of the auto parts fell by about 18 percent on Wednesday.
Closing and Impact on Workforce
Restructuring will not only lead to closure, but also reducing the workforce, although the company has not revealed certain numbers of job loss.
2024. The chain closed 40 stores as he opened 42 new locations, which end in the year with 4,788 stores – two more than in 2023. Years. However, this number will be significantly lowered by the end of 2025. Due to mass shutdowns.
The first wave of closing trade is already ongoing, with the real estate listed for the sale of Hilco sales of real estate. Hilco is managing more than 200 leased stores and 24 Location owners, including real estate in several countries.
Among the 24 locations owners listed for sale are:
- Alabama: Bay Minette (101 McMeans Ave.)
- Arizona: Meat (1201 Western University dr.), Phoenix (3246 West Indian School Rd.), Prescott Valley (3484 North Glassford Hill Rd.)
- California: City of cathedrals (68-580 Ramon Rd.)
- Florida: Clermont (390 East Hwy. 50), Fort Myers (3671 Cleveland Ave.)
- Louisiana: New Orleans (2641 South Clayborne Ave.)
- Michigan: Battle Creek (1405 Columbia Ave. West), Wyoming (1784 28. AT. SW)
- Mississippi: Jackson (2020 Raymond Rd., 205 West Northside Dr.), Meridian (2906 8th St.), Picayune (230 Memorial Dr.)
- North Carolina: Greensboro (5307 West Market St.)
- Texas: Corpus Christi (10765 Leopard St.), McAllen (1010 Northern 10. St.), Weslaco (154 North Texas Blvd.)
- Wisconsin: Manitowoc (3404 Calumet Ave.)
The Herald Times Reportera Now today The network location, it was confirmed that the two advance locations of the car parts in Manitowoc, Wisconsin, have already closed. Similarly, Wichita Falls Times Record News In Texas, he reported that local trade went out after almost 20 years of business.
Industry and market challenges
Advance Auto parts works more than 4,700 stores across the United States, Canada, Puerto Rico and the American Virgin Island. It also serves 1,125 independent possession of the location of the market according to these regions, as well as in Mexico and the Caribbean.
While Advance auto parts tried to restructure his business model, he fought in order to be able to follow with his competitors.
What is next for Advance auto parts?
In addition to the imprisonment to continue to the middle of 2025. year, the company will focus on the execution of its assumption strategy. Customers seeking closing details of storage-specifics can check the website of the update company.
2025-03-04 08:54:00
