This beloved car parts retailer is closing stores! (Advance Auto closes 700 locations)

Advance Auto is closing 700 stores, according to the company, 500 of which are directly owned and 200 of which are independently operated. They have not yet released the list of locations.

CNN Business noted that many retail operations are shutting locations after their “sugar high” of 2021-22, when people were buying heavily after COVID and but before companies started to jack up their profit margins. In addition, local car parts shops face increased competition from Amazon, car companies, and retailers such as Rock Auto.

Advance Auto is in the midst of a turnaround plan and has been cutting costs in the face of falling sales, some of which might be due to modern cars’ lower maintenance needs and failure rates.