TORRANCE, Calif. (Oct. 10, 2002) — An investors group headed by Winston Tire President/COO Ron Vines is hoping to keep the Winston Tire name alive in the wake of Goodyear's move to take over the assets of the bankrupt retail chain.
The group, which includes others with tire retailing experience, is negotiating to take over an unspecified number of locations and keep them operating as Winston Tire.
"We want to restart as a new company, with no debt and proper funding," Mr. Vines said, "and keep the Winston name alive.
"We've had a favorable response from Goodyear thus far," he told Tire Business. "We're negotiating now how many locations might be available."
Goodyear disclosed Oct. 9 it is taking over Winston's assets and plans to convert 44 of the chain's 97 locations into Just Tires outlets and sell the rest to existing independent Goodyear dealers and other third parties.
Winston Tire has been operating under Chapter 11 bankruptcy protection since Jan. 15.