This Popular Chain Is Closing Over 100 Locations
The chain will continue to shutter stores over the next few months.
Over the course of the COVID-19 pandemic, countless businesses have closed their doors for good, from beloved retail chains to movie theaters to popular restaurants. And while there may be hope on the horizon for some businesses as foot traffic picks up and the economy rebounds, not all companies will weather the storm. Now, yet another national chain is making some tough decisions about its future, announcing plans to shutter over 100 stores. Read on to discover if a store near you may be affected.
RELATED: This Grocery Chain Is Shutting Down.
Pep Boys is closing stores throughout the Northeast.
Pep Boys, an automotive supply and repair chain that operates over 1,000 locations and 9,000 service bays in the U.S. and Puerto Rico, is closing a number of stores throughout the northeastern U.S. in the coming months, The Philadelphia Inquirer reports.
The publication reports that the Philadelphia-based car supply company will soon shutter New Jersey locations in Cherry Hill, Marlton, and Turnersville, following the closures of locations in Stratford and Audubon in early 2021.
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The chain will close more than 100 stores in total.
According to a source for The Philadelphia Inquirer, in addition to the recent closures in the Northeast, Pep Boys plans to close or sell an additional 100 stores in the U.S. in the near future.
The company has already closed a number of stores in Louisiana, Michigan, New Mexico, Pennsylvania, and Washington state since the beginning of 2020, the publication reports.
And 100-plus Pep Boys locations will be taken over by a competitor.
In March 2021, Pep Boys announced that its competitor, Advance Auto Parts, would initially lease, then rebrand 109 Pep Boy stores in California.
"The agreement announced today only reinforces Pep Boys Service position as a leading repair and maintenance provider for consumers and fast-growing fleets on the West Coast," Pep Boys CEO Brian Kaner in a statement. "The agreement this year will provide us with an opportunity to refresh our Service Center locations and reinvest in the market to meet emerging customer needs, particularly as demand for electric vehicle service grows in the region."
Kaner added that "there's a significant convenience advantage to having Pep Boys Service Centers located in proximity to a leading parts provider such as Advance—just another way Pep Boys is continuing to deliver on our promise to our customers: We go further to help you go farther."
This isn't the company's first mass closure.
In 2003, Pep Boys had another large-scale string of closures. At the time, the company laid off approximately 860 employees and shuttered 33 stores, according to CBS News.
"Nobody enjoys doing what we're going to be doing today, and clearly not the employees involved, but it's necessary for us to go the next step and return to profitability and growth," said Lawrence Stevenson, the company's CEO at the time.
Just three years prior to the 2003 closures, the chain had shut down 38 stores and laid off 1,500 employees.