Tuesday, December 11, 2007

Nobody's a somebody

They were once the second largest muffler chain in Canada. This morning, the Toronto Star reports that Speedy Muffler King is definitely going out of business. They were in bankruptcy "protection," facing a debt of $2.8 billion but now the safety net has ended now that the trustee has determined the cash in hand and equivalent isn't enough to keep the company minimally going.

I never used their services, but my father got a couple tune-ups there for his vehicle. Their service wasn't something to complain about, it actually wasn't that bad. And they had the best commercials, and the catchy slogan "At Speedy, you're a somebody." Now, what's left of it will be taken over by the relatively smaller Minute and a US chain, Meineke.

My father just asked me as I'm writing this, how could a muffler shop go bankrupt? How indeed?

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