Advance Auto Parts has been a go-to destination for drivers across the United States for decades. Whether you’ve needed a new car battery, some fresh wiper blades, or just a little help diagnosing that mysterious dashboard light, Advance Auto has always been there.
But lately, there’s been a lot of talk—online and in communities—about whether the company is struggling. Some people are even asking if Advance Auto Parts is going out of business. So what’s really going on?
Let’s break it down in simple terms.
First, a little background. Advance Auto Parts is one of the largest auto parts retailers in the country. It was founded in 1932 and has grown to more than 4,000 stores across the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands.
They sell everything from motor oil to brake pads and even tools. A big part of their business also involves helping customers with advice and basic services like battery testing and installation.
But lately, things haven’t been going so smoothly.
Over the past few years, Advance Auto Parts has struggled financially. In 2023, the company reported some disappointing earnings. Sales were down. Profits were shrinking. And to make things worse, competitors like AutoZone and O’Reilly Auto Parts seemed to be doing better.
Customers started noticing problems too. Some complained about stores not having the right parts in stock. Others said service had gotten slower. In today’s competitive retail world, that’s a big deal.
In response, the company’s leadership made a major change. In late 2023, Advance Auto brought in a new CEO, Shane O’Kelly, to help turn things around. O’Kelly is a former Army officer and business leader with a background in logistics—something that could help fix some of the company’s supply chain issues.
In early 2024, Advance Auto Parts announced a major cost-cutting plan. This included the closure of some underperforming stores. While they didn’t release an exact number of closures right away, reports suggest that dozens of locations across the country were shut down or are on the chopping block.
The company also reduced staff at some of its distribution centers and corporate offices. These cuts are always tough—not just for employees, but also for the communities that rely on these jobs.
Still, the company said these changes were necessary to help stabilize things financially.
Another red flag came when Advance Auto’s stock price took a major hit. In mid-2023, their stock fell by more than 35% after a weak earnings report. That’s a huge drop, especially in such a competitive industry.
Investors were worried about the company’s long-term future. Was Advance Auto losing its edge? Could it still compete with AutoZone, Amazon, and other online parts suppliers?
The good news is that the company didn’t go bankrupt. Not even close. But it was definitely a wake-up call.
Here’s the straight answer: No, Advance Auto Parts is not going out of business right now.
Yes, the company is making big changes. Yes, it’s closing some stores and cutting costs. But those moves are being made to help save the company—not shut it down.
In fact, the company is actively trying to bounce back. Under Shane O’Kelly’s leadership, Advance Auto is focusing on improving how it gets parts to stores, fixing pricing problems, and making sure customers can get what they need—when they need it.
There’s also a renewed focus on serving professional mechanics, who often buy parts in bulk. That could help improve sales and bring in more steady business.
So while the company is going through a tough time, it’s not vanishing overnight.
If you’re a regular Advance Auto Parts customer, you might notice a few changes:
If you’re shopping for car parts, you can still trust Advance Auto for now. Just know that the company is in the middle of a rebuild—and that sometimes comes with growing pains.
No one can say exactly what will happen in the next few years. If Advance Auto’s turnaround efforts work, the company could become stronger and more efficient. That would mean more reliable service, stronger earnings, and less fear of closure.
But if things don’t improve, there’s a chance the company could be sold, merge with another retailer, or even face bankruptcy down the road.
Right now, it’s too early to tell. But all signs suggest Advance Auto is fighting to stay in the game.
It’s worth noting that Advance Auto isn’t the only retail company facing tough times. The last few years have been hard on many businesses, especially with rising costs, supply chain issues, and changes in how people shop.
More customers are buying auto parts online. Some are turning to cheaper options like Amazon. Others are putting off car repairs altogether due to inflation.
Retailers have to be flexible, smart, and fast to survive. Advance Auto is trying to make those changes—but they’re not easy.
So, is Advance Auto Parts going out of business? No—but it’s definitely in a fight for survival. The company is making some tough choices, like closing stores and cutting jobs, to stay afloat.
With new leadership, a sharper focus, and some smart business moves, there’s a good chance Advance Auto can pull through. But they’ll need loyal customers, smart decisions, and maybe a little luck too.
If you depend on Advance Auto Parts for your car needs, there’s no reason to panic just yet. But keep an eye on how things develop—and maybe have a backup plan in case your local store is one of the ones affected.
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