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.
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.