Thursday, May 28, 2015

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. 

About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

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

Joseph N. DiStefano