ASE/ASI/Performance/Nashbar goes Chapter 11

https://bit.ly/2zcC4C7

Not sure if this is good for the LBS or another death knell for trying to run a brick and mortar shop.
Patrick Cunnane, the CEO of ASE, said the ASI distribution business is profitable but the company was unable to turn around the retail business, which has seen sales declines for the last six years.

"We tried to be more local and less national" — Pat Cunnane
"We were undercapitalized from the start," he told BRAIN. "We bought (Performance) because two years ago Performance was heavily in debt to ASI. If Performance had failed then, ASI would have failed. So we would have been in this same position but two years ago."