Someone told me recently auto parts stores are counter-cyclical and tend to do well in recessions. That's because people aren't buying new cars. Instead, they focus on keeping their existing cars in good shape. Apparently, however, that's not the case for Goodyear. The company announced it is closing 92 stores.
Goodyear Tire & Rubber Co. has disclosed plans close 92 retail stores by the end of the year.
The company did not say which targeted locations are underperforming when it announced its plans on Tuesday.
A Goodyear vice president for retail operations, Scott Vogel, says the company is not announcing the store locations involved. Goodyear intends to first communicate the decision with their approximately 500 full-time and 100 part-time employees and property owners of leased facilities.