Advance Auto Parts to close 727 stores as it tries to avoid Bankruptcy

The American auto parts chain Advance Auto Parts has announced it will close 727 stores and four logistics centers as part of a strategy to avoid bankruptcy.

According to a report by Boosted, the closures are set to take place by the end of 2027.

This drastic measure is part of a new financial plan aimed at stabilizing the company’s economy and ensuring long-term survival.

The decision comes after yet another disappointing quarterly report. Although gross turnover increased by 11%, operating costs also rose, and total revenues declined, exacerbating the company’s financial woes.

https://www.msn.com/en-us/money/companies/on-the-verge-of-bankruptcy-american-auto-parts-giant-to-close-727-stores/ar-AA1ukYbm