Zips car washing, the chain that’s been selling the brand for more than a decade, is in the process of closing its doors, Anthony’s new owner told Axios.
“We’ve been very fortunate in the last two years,” said Tony LeBlanc, Anthony Smith’s co-owner.
The grocery chain announced it would close its stores and stop selling cars at its three stores in September after an investigation into how its workers were treating customers.
Zips’ move was a blow to the company, which has struggled to compete in the rapidly changing retail environment in recent years.
In its latest earnings call, Zips CEO Peter Johnson said that Zips is closing stores to “focus on its core business of offering customers the convenience of Zips’ award-winning car washing services.”
Zips stores are expected to be gone by the end of the year, but it is unclear when.
We have an option to move to a new store, or lease Zips stores,” LeBlanch said.
LeBlanc said the company is also considering a sale of the brand to another company.
Tony LeBlanche, the co-founder and CEO of Zipps car washing chain, Anthony.
Photo: Getty ImagesZips has seen its stock tumble from a peak of $17.45 in September 2017 to a low of $1.18 in February 2018.
After announcing that Zipp’s stores would close on September 12, LeBlanches CEO told investors that the company would close in December and not reopen until 2019.
Since then, Zipp has experienced a series of setbacks, including a series in February when the company said it would be shutting down its entire Car Wash chain.
The Car Wash franchisees union said in February that the stores would be shut down by October, with some workers quitting or not renewing their contracts.
Despite those setbacks, Leblanc said on the call that the chain is still looking to open stores in the future.
And in an interview with Axios, he said Zipp is still open to selling.
He said he doesn’t have a timeline for when Zips would reopen but that he’s confident the company can open stores.
But he did say that he didn’t see the brand as being an option for him, and that it was too soon to sell.
Last month, Anthony announced that he would be selling his stake in Zips and his stake of 25% of the company.
LeBlanes plan to exit the brand, with the company planning to open its new stores in 2021.
The stock of Zippers fell nearly 50% on Tuesday, trading at $1,076.91, before rising to $1 (US$1.07) in late afternoon trading.