Winston Tire Company

Client

Winston Tire Company was an owner and operator of more than 200 tire stores in the Western United States with annual sales of approximately $200 million. Winston Tires was a wholly owned by the Haefner Tire Group in Charlotte, NC.

Challenge

Continued deteriorating operating results and a failed systems implementation led to deterioration in internal controls. As a result, the Company's primary equity sponsor dismissed the CEO.

Solution

Bridge provided an interim CEO to fill the void until revised strategic plans could be established. In that role, Bridge assisted the Company in developing new strategic plans including the sale of non-strategic retail locations, streamlining logistics, eliminating redundant inventory and eliminating unprofitable services.

Results

These improvements enabled Winston to become a viable business division and attract strategic buyers. The parent company was able to exit the West Coast retail business which did not fit their overall strategic plan.