American Tire files for Chapter 11 battling industry pressures

American Tire Distributor (ATD) filed for Chapter 11 bankruptcy on Thursday after battling shifts in the tire industry that saw two major manufacturers cut ties with the firm earlier this year.

  • By David Bell
  • 04 Oct 2018

The filing was an outcome that debt investors have been anticipating for some time, with the company’s unsecured high yield bond dropping from as high as 102 in April to 24 on Wednesday.

The company, owned by private equity firms Ares Management and TPG, has $975m of senior ...

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