Japan's Autobacs bids for Strauss.(News)

Tire Business, April, 2007

Japan's Autobacs Seven Co. Ltd., a globally active auto parts and tire retailer with more than 500 stores in seven countries, has bid $45 million to take over Strauss Discount Auto, the South River, N.J.-based auto parts retailer/automotive service provider operating under Chapter 11 bankruptcy protection.

The bid was disclosed in filings April 4 with the U.S. Bankruptcy Court in Newark, which has been overseeing Strauss' Chapter 11 case since it was filed last August. The court has until May 31 to rule on the the proposed purchase, the documents said.

Strauss Discount, which also operates under the name R&S Parts and Service Inc., has 89 locations along the New York City-Philadelphia corridor in New Jersey, New York and Pennsylvania.

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