Tire Barn Warehouse, headquartered in Anderson, Ind., plans to sell the majority of company assets to Monro Muffler Brake Inc.
According to the Modern Tire Dealer 100 list, Tire Barn is the 34th largest independent tire dealer chain in the U.S. with 32 stores across Illinois, Indiana and Tennessee . Monro, headquartered in Rochester, N.Y., is fourth with 306 across the U.S.
Monro plans to keep the Tire Barn name.
Tire Barn’s closing is scheduled for Nov. 19 and there will be “no change in basic store operations and very little change in store personnel,” according to a statement by Chris Jones, Tire Barn president and CEO.
Tire Barn is a family-owned tire business. It was founded in Anderson and Kokomo, Ind., by Everett and Iva Tate-Jones in the 1920s.
It was originally a petroleum distribution business. The company was incorporated and named Everybody's Oil Corp. in January 1930. Iva and Everett’s son Arnold Jones joined the company after World War II, and son Chris Jones joined Tire Barn after graduating from college in 1977.
In the fall of 2007, Tire Barn divested itself of the retail gasoline outlets to concentrate on selling tires.
“I cannot thank our employees enough for their service to my family over the years,” Jones said in the press release. “The continued support of our employees and customers is what has kept us going the past 83 years, and I’m grateful to each one of them.”