AutoZone submits Business Rescue Plan, which could see some branches closing

  • 📰 TheStar_news
  • ⏱ Reading Time:
  • 21 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 59%

Business News

AutoZone has published a Business Rescue Plan which the retailer hopes will help secure its future following a tumultuous four years.

AutoZone has submitted a Business Rescue Plan to its creditors. Picture: MISA.

Its Business Rescue Plan proposes a number of structural changes aimed at ensuring a successful rescue process. The retailer currently has 214 wholly-owned branches and 33 member-owned branches throughout Southern Africa. The Motor Industry Staff Association said it would continue to participate in the process in order to protect the interests of its members who are affected by the proposed layoffs.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 26. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Major South African solar provider stops trading, enters business rescueThe company has also laid off an undisclosed number of employees.
Source: mybroadband - 🏆 11. / 67 Read more »

Another major company in South Africa enters business rescueA major player in South Africa’s blossoming solar industry has entered into business rescue due to cash flow challenges.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Yet another major company in South Africa enters business rescueSports retailer Cross Trainer has entered business rescue, joining a growing list of high-profile companies in distress.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Another casualty of weak economy: Cross Trainer enters business rescueThe business owners struggled to maintain payments to some of the 67 stores they own.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

COVID Hangover: Another Major South African Retailer Forced Into Business RescueSouth African and global news updates with a twist. 2oceansvibe is South Africa’s biggest solely owned online news platform with local and world news updates.
Source: 2oceansvibe - 🏆 43. / 51 Read more »

SPAR could save the day for major retailer in business rescueAccording to sources close to the matter, SPAR is considering acquiring debt-laden West Pack as part of its expansion strategy.
Source: BusinessTechSA - 🏆 24. / 61 Read more »