Advance Auto Parts to Close Hundreds of Stores Nationwide Amid Struggles
Advance Auto Parts is closing over 500 stores, including nine in Oregon, as part of a strategic plan to improve its struggling business. The closures, which also include four distribution centers and 204 independent locations, are expected to impact 96 employees in Oregon. Despite these reductions, the company plans to accelerate new store openings and standardize operations. Advance Auto reported a $6 million loss in Q3 and has lowered its full-year revenue outlook. The company recently sold its Worldpac business for $1.5 billion to Carlyle.
