Friday, December 19, 2014

Pep Boys: No sale

Will collect $50M to kill Gores Group sale

Pep Boys: No sale

Pep Boys, the Philadelphia based auto Parts and service chain, says it will collect $50 million to cancel planned $1 billion sale to private equity buyer Gores Group. Boss Mike Odell says firm is solvent and will refinance debt. 

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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