In a move American Tire Distributors Inc. (ATD) says reflects its evolution to date and accelerates the company’s ongoing transformation to becoming "the most connected and insightful automotive solutions provider in the industry," the company has realigned its senior leadership team.
American Tire Distributors Inc. emerged from Chapter 11 bankruptcy on Dec. 21 following the completion of its financial recapitalization.
The United States Bankruptcy Court for the District of Delaware has confirmed American Tire Distributors Inc.'s Plan of Reorganization. The company expects to complete its recapitalization and successfully emerge from Chapter 11 by the end of the year.
The votes are in. And they represent a very positive sign for American Tire Distributors Inc. (ATD).
In order to keep his customers in the loop during American Tire Distributors Inc.’s reorganization, CEO and President Stuart Schuette emailed out a quick update on the company’s recent business developments. They include clearing up some confusion about how some of its suppliers have reacted to the company’s Chapter 11 Reorganization bankruptcy filing.
American Tire Distributors Inc. (ATD) has entered into a definitive agreement with a majority of its bondholders on the terms of a recapitalization. To implement the agreement, the company voluntarily filed for reorganization under Chapter 11.
American Tire Distributors Inc. (ATD) has reached an agreement in principle with holders of more than 70% of its bonds on the terms of a recapitalization transaction that will reduce the company’s debt by up to $1.1 billion. It also will provide financial flexibility as it continues its ongoing transformation.
When CEO and President Stuart Schuette recently explained to American Tire Distributors Inc. associates why the company was downsizing its Field Support Center, the letter was long on strategic intiatives and short on details.
American Tire Distributors Inc. (ATD) has downsized its Field Support Center in Huntersville, N.C., “to more closely align our capabilities with our strategy to continue to grow and help our customers succeed,” said a company spokesperson.
In a letter to his retail customers, American Tire Distributors Inc. (ATD) CEO and President Stuart Schuette revealed that it would "no longer have access to distribute Bridgestone consumer products in the United States."
American Tire Distributors Inc., the largest wholesale tire distributor in the U.S., was notified by Bridgestone Americas Inc. that it will no longer be a Bridgestone tire distributor.
The formal transition of Goodyear Tire & Rubber Co.'s G3X program away from American Tire Distributors Inc. (ATD) will be on June 30, 2018. After that, ATD says it "will continue to provide Goodyear product for all other customers until a determined transition time."
When Stuart Schuette took over as CEO of American Tire Distributors Inc. in January 2016, he had one goal: “to drive the innovation necessary to continue to grow the business and exceed our customers’ expectations."