Goodyear Loses Big Customers Due To Kmart Insolvency
Mass-Merchandiser Kmart, one of the biggest competitors of US-Giant Wal-Mart, filed for chapter 11 some months ago, trying to restructure the group and avoid a total crash. Because of this crisis 563 Penske Auto-Service Centers closed last week. These centers were operated by Penske Auto Centers (PAC) at Kmart locations.
PAC is owned 1/3 by Kmart and 2/3 by Penske corporation. Penske Auto Centers used to be the biggest independent tyre dealer in the US and was one of the important key-customers of the Goodyear-group..