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.