JUDGE ORDERS FOREST CITY AUTO PARTS TO LIQUIDATE ASSETS

According to an article in today's edition of the Cleveland Plain Dealer, Forest City Auto Parts has closed all of its 36 stores following a bankruptcy judge ruling that said the company had to begin liquidating its assets. The auto parts chain, a subsidiary of Restoration Auto Parts, filed for bankruptcy in February. Steve Googasian, general counsel for Restoration Auto Parts, told the Plain Dealer that Restoration Auto Parts, through its Trak Auto subsidiary, plans to make offers for an undisclosed number of the 36 stores at some point in the future. He identified vacated locations in Chicago, Cleveland and New York as the most likely to be purchased.