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ATD up for sale as large US tyre wholesaler enters bankruptcy proceedings

Author: Chris Anthony Comments: 0
ATD will soon have new owners after it entered Chapter 11 bankruptcy proceedings and announced that its lenders intend to take over ownership of the large tyre distributor. The Georgia distribution centre ATD sold in 2023 is pictured (Photo: ATD)

American Tire Distributors, Inc. (ATD) has filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware in parallel with entering a restructuring support agreement (RSA) with lenders representing approximately 90 per cent its outstanding obligations. At the same time, the firm reported that it is “contemplat[ing] transitioning ownership of the company through a competitive sale process”.

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