Advance Auto Parts is shuttering or leaving over 700 locations around the country by mid-2025.
The car parts store based in North Carolina announced the closures on Nov. 13. It is a part of a “restructuring” and “asset optimization plan” with the goal of increasing profits and streamlining the companies operations, according to a public filing. There will be a headcount reduction as a result.
It is closing 523 corporate stores and four distribution centers and exiting 204 independent locations. The locations of the closures have not been made public as of this writing.
“We are charting a clear path forward and introducing a new three-year financial plan, with a focus on executing core retail fundamentals to improve the productivity of all our assets and to create shareholder value,” said CEO and president Shane O’Kelly in a statement on Nov. 14.