Super Autobacs Rotary Meet
#1527
Administrator
iTrader: (7)
don't be a hater...
#1530
I am THAT guy
iTrader: (1)
lol - if autobac's closes, that won't make much of a difference to us - we'll still meet there - they've been meeting there since before it was created and they'll be meets afterwards...
and besides...it's no loss to our community.......they don't even have **** for us anyways...
and besides...it's no loss to our community.......they don't even have **** for us anyways...
#1531
Administrator
iTrader: (7)
they're closing?!
#1532
Administrator
iTrader: (7)
Autobacs Strauss files for Chapter 11 protection
Autobacs Strauss Inc, a wholly owned subsidiary of Japanese auto parts retailer Autobacs Seven <9832.OS>, filed for Chapter 11 bankruptcy protection in a Delaware court on Wednesday, court documents showed.
The company, which operates 86 retail store locations in New York, New Jersey and Pennsylvania, listed assets of about $75 million and liabilities of about $72 million, according to court filings.
Autobacs Seven created the Autobacs Strauss unit after it agreed to acquire Strauss Discount Auto out of bankruptcy protection for about $55 million in 2007. Autobacs Strauss said it plans to use the bankruptcy process to fix its operations and close some underperforming stores.
The company had entered into a series of loan agreements with Autobacs Seven for infusion of working capital and implementation of a new business strategy, court filings showed.
In December, Autobacs Seven said it was no longer willing to provide additional working capital.
Earlier this month, Autobacs Seven gave a written notification to Autobacs Strauss, saying the loan agreements were in default and declared all sums due and immediately payable, according to court filings.
The company owes Autobacs Seven about $42.4 million, it said.
The South River, New Jersey-based Autobacs Strauss said it employs about 1,450 people and that it plans to use the Chapter 11 process to emerge as a cash flow positive entity.
The case is In re: Autobacs Strauss Inc, No 09-10358, U.S. Bankruptcy Court, District of Delaware. (Reporting by Santosh Nadgir in Bangalore; Editing by Deepak Kannan)
The company, which operates 86 retail store locations in New York, New Jersey and Pennsylvania, listed assets of about $75 million and liabilities of about $72 million, according to court filings.
Autobacs Seven created the Autobacs Strauss unit after it agreed to acquire Strauss Discount Auto out of bankruptcy protection for about $55 million in 2007. Autobacs Strauss said it plans to use the bankruptcy process to fix its operations and close some underperforming stores.
The company had entered into a series of loan agreements with Autobacs Seven for infusion of working capital and implementation of a new business strategy, court filings showed.
In December, Autobacs Seven said it was no longer willing to provide additional working capital.
Earlier this month, Autobacs Seven gave a written notification to Autobacs Strauss, saying the loan agreements were in default and declared all sums due and immediately payable, according to court filings.
The company owes Autobacs Seven about $42.4 million, it said.
The South River, New Jersey-based Autobacs Strauss said it employs about 1,450 people and that it plans to use the Chapter 11 process to emerge as a cash flow positive entity.
The case is In re: Autobacs Strauss Inc, No 09-10358, U.S. Bankruptcy Court, District of Delaware. (Reporting by Santosh Nadgir in Bangalore; Editing by Deepak Kannan)
#1540
Administrator
iTrader: (7)
which shop? what are you having done?
#1548
Administrator
iTrader: (7)
what time you gettin' to the Louge?
What time you leaving the Lounge?
9:00 = Autobacs What then?
What time you leaving the Lounge?
9:00 = Autobacs What then?