Auto Repair Company Monro To Close 145 Stores as Financial Struggles Mount
Car-care company Monro is closing some locations and reportedly already laying off employees.
About 145 Monro Muffler stores are closing. After a recent period of declining sales, the automotive service company decided it would be best to shutter its “underperforming stores.”
It has not yet been announced which stores are on the closing list. Across 32 states, there are currently 1,260 locations owned by the company and 48 franchised stores.
“Monro recently conducted a comprehensive review of its store portfolio,” the company stated in a press release obtained by WBNG 12 News. “This work identified 145 underperforming stores for closure, and the company has initiated a process to close these locations during the first quarter of fiscal year 2026.”
According to the news outlet, some employees have already been laid off. Monro noted that it will remain committed to helping workers through the transition while still providing top-notch service to customers.
“We have communicated this news directly with our impacted teammates and are deeply grateful to them for their dedication and commitment to the communities we serve,” the statement continued.
Monro Has Been Struggling
Per its earnings statement released last month, Monro reported a sales decline of 4.9% in the fourth quarter, falling from $310.1 million to $295 million. Net loss in the quarter amounted to $21.3 million versus a net income of $3.7 million the year prior.
Compared to sales of $1.277 billion in 2024, sales plummeted 6.4% to $1.195 billion in fiscal 2025. Monro took a net loss of $5.2 million for the year, significantly worse than the net income of $37.6 million last year.
Monro blamed bad weather and cash-strapped consumers for the poor performance both in the quarter and for the year. In addition, the car-care company noted there were fewer selling days compared to previous reporting periods.
With declining numbers, Monro’s leadership has a plan to turn it around. CEO Peter Fitzsimmons, who took the position in late March, said the company will focus on “four key areas” for improvement. Part of the strategy includes the closure of stores, along with “improving our customer experience and selling effectiveness, driving profitable customer acquisition and activation, and increasing merchandising productivity, including mitigating tariff risk.”
“While our improvement plan will take time to implement, I believe that we will drive enhanced profitability and increase operating income and total shareholder returns in fiscal 2026,” said Fitzsimmons in the earnings statement.
