Tire Discounters Inc. has issued a statement on its role as a shareholder in American Car Care Centers Inc. (ACCC), which will cease operations by Jan. 31, 2014.
“As has been reported in recent trade journals, Tire Discounters is still a current shareholder of ACCC, but only as required by the shareholder agreements we are obliged to honor. What has not been reported is that Tire Discounters resigned from the ACCC board of directors in July 2013.
“When we learned of ACCC’s dissolution plans earlier this year, we informed ACCC’s management and board of our belief that the planned dissolution was not in the best interests of the organization, its shareholders, or its dealers, including Tire Discounters.
“When it became apparent that we would not be able to convince ACCC’s board to take a different course of action, we resigned from board. Tire Discounters has not been involved in any of the decisions or actions connected with the dissolution of ACCC.”
Tire Discounters, based in Cincinnati, Ohio, employs more than 900 people and is No. 9 on the MTD 100.
For more information on ACCC, see “ACCC announces plans to dissolve.”
