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Boyds Wheels Inc

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BUSINESS
January 8, 1998 | Dow Jones
Boyds Wheels Inc. signed an agreement for a New Mexico firm to distribute and market eight new billet wheel designs. Boyds Wheels said Price Truck Stop, Roswell, N.M., has made an initial order of $30,000 in addition to the marketing agreement. A Boyds Wheels spokesman said the arrangement is "potentially lucrative" because Price Truck Stop buys $4 million to $5 million in billet wheels per year. Boyds Wheels Inc.
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BUSINESS
August 5, 1999 | GREG HERNANDEZ, TIMES STAFF WRITER
Automotive Performance Group Inc. of Garden Grove said Wednesday that it plans to spin off several of its smaller assets to its shareholders, including Boyds Wheels Inc., the custom wheel maker that it rescued from bankruptcy earlier this year. The move is part of a major restructuring at APG, which has acquired 22% of PBT Brands Inc., a new company formed to acquire the Permatex operations of Locite Corp. Permatex makes chemical products for the automotive maintenance and repair markets.
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BUSINESS
March 17, 1996
Boyds Wheels Inc., which designs and manufactures aluminum wheels for the specialty automotive and motorcycle aftermarkets, said net income increased 40% for 1995 to $947,000, or 48 cents a share, from $675,000, or 40 cents a share, for 1994. Revenue rose 47% to $17.8 million from $12.1 million. Net income for the fourth quarter was $268,000, or 10 cents a share, 94% higher than the $138,000, or 8 cents a share, reported for the prior year's fourth quarter. Revenue was up 63% to $4.
BUSINESS
April 6, 1999 | John O'Dell
The rescue of bankrupt custom wheel maker Boyds Wheels Inc. was quietly completed Friday as an 80% stake in the Stanton manufacturing company was transferred to Arizona-based Automotive Performance Group, or APG. The previously announced deal gives APG control of Boyds and its car design and construction subsidiary, Hot Rods by Boyds. In return, APG has said it will pump $2 million into resurrecting Boyds and will pay about $950,000 in administrative claims relating to the bankruptcy.
BUSINESS
October 4, 1996
Boyds Wheels Inc., Boyd Coddington's publicly traded custom automobile wheel and motorcycle parts manufacturer, said it has signed a licensing deal with auto electronics and audio equipment maker Orion Industries for a line of products to be marketed in Japan under the Boyds name. Phoenix-based Orion will handle research, development and manufacturing during the yearlong agreement. Boyds Wheels is the marketer. The company said it has received about $230,000 in initial orders.
BUSINESS
December 31, 1996
Boyds Wheels Inc. said it has acquired its sister company, Hot Rods By Boyd, for about $750,000 in stock. Hot Rods By Boyd, a custom car designer and builder, was owned by Boyds Wheels Chairman and Chief Executive Boyd Coddington and his wife. Boyds Wheels, which went public in September 1995, was granted the option to purchase Hot Rods By Boyd at the time of the initial public offering. Hot Rods By Boyd reported net sales of $1.6 million and a profit of $328,000 in 1995.
BUSINESS
November 4, 1997 | John O'Dell
Financially ailing Boyds Wheels Inc. said that company founder Boyd Coddington has resigned as chairman and chief executive. The renowned hot-rod designer and builder will remain a member of the Stanton-based company's board of directors and serve as a design and marketing consultant under a long-term agreement. Gardiner S. Dutton, a recent addition to the Boyds Wheels board and a long-time manufacturing industry executive, has been appointed interim chairman and chief executive.
BUSINESS
November 15, 1997 | John O'Dell
Boyds Wheels Inc. fulfilled President David Asher's earlier warning of a poor third quarter on Friday, reporting a loss of $2.1 million, or 55 cents a share, for the period, including a charge of $465,000 to account for a bad debt from the bankruptcy of a major customer. A year earlier, the ailing custom-auto wheel and accessories maker posted a profit of $568,000, or 14 cents a share. Revenue for the three months ended Sept. 30 fell to $4.8 million from $7.6 million.
BUSINESS
May 4, 1997 | Dow Jones
Boyds Wheels Inc. expects to report a first-quarter loss of about $1.5 million as a result of facilities expansion and lower-than-expected sales. In the first quarter ended March 31, 1996, the company earned $360,000, or 14 cents a share, on sales of $5.3 million. Boyds Wheels said orders in the first quarter rose 30% from last year, but the company said it expects to ship a large portion of these orders in the second quarter.
BUSINESS
April 6, 1999 | John O'Dell
The rescue of bankrupt custom wheel maker Boyds Wheels Inc. was quietly completed Friday as an 80% stake in the Stanton manufacturing company was transferred to Arizona-based Automotive Performance Group, or APG. The previously announced deal gives APG control of Boyds and its car design and construction subsidiary, Hot Rods by Boyds. In return, APG has said it will pump $2 million into resurrecting Boyds and will pay about $950,000 in administrative claims relating to the bankruptcy.
BUSINESS
January 12, 1999 | JOHN O'DELL, TIMES STAFF WRITER
Custom wheel and auto accessories maker Boyds Wheels Inc. ended its year-old bankruptcy Monday with court approval of a reorganization plan that will turn the once-glamorous manufacturer of expensive alloy wheels into a sales and marketing company whose products will be made in Asia. The plan will also give Automotive Performance Group of Tempe, Ariz., an 80% interest in Boyds.
BUSINESS
September 23, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Creditors of bankrupt custom wheel maker Boyds Wheels Inc. filed a reorganization plan Tuesday that would block famed hot-rod builder Boyd Coddington from regaining control of the Stanton-based company. The new plan would put a resurrected Boyds Wheels under the control of an auto racing and performance parts company run by Andrew Evans, a close friend of and longtime financial advisor to software billionaire Bill Gates.
BUSINESS
July 21, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Famed hot rod builder Boyd Coddington would reclaim the publicly traded company he lost in a bankruptcy earlier this year under a reorganization plan filed Monday for Stanton-based Boyds Wheels Inc. The plan, which still must be approved by creditors, calls for Coddington to return to the custom wheel and hot rod design company he founded.
BUSINESS
June 2, 1998 | John O'Dell
The recent bankruptcy of Boyds Wheels Inc. will give some bargain hunters a break, as the company is auctioning most of its physical assets and inventory in a three-day sale that starts Wednesday at its office in Stanton. The sale should draw both consumers and businesspeople.
BUSINESS
March 7, 1998 | Dow Jones
Bankrupt custom wheel maker Boyds Wheels Inc. said Friday that it has been delisted from the Nasdaq National Market System, that its Big 6 accounting firm has quit and that its interim chief executive has resigned. The company said the delisting was effective as of Tuesday, the day after it announced it was liquidating most of its assets. It said the stock will trade through 14 market makers. Also Tuesday, the Coopers & Lybrand accounting firm ceased being the company's auditors.
BUSINESS
March 3, 1998
* Officials at Stanton-based Boyds Wheels Inc. said they have dismissed about 130 workers, shut down the custom-wheel maker's manufacturing operations and will ask the U.S. Bankruptcy Court this morning for permission to auction its assets, including the company's name and designs. Boyds filed for Chapter 11 bankruptcy reorganization Jan. 30 after Boyds Wheels, its credit line frozen by its banker after a year of financial turmoil, ran out of cash. Boyds stock closed at $1.
BUSINESS
September 16, 1995 | DAN MARGOLIS, SPECIAL TO THE TIMES
The stock of Boyds Wheels Inc., a manufacturer of high-end automotive and motorcycle wheels, increased 22% Friday in its first day of Nasdaq trading. Boyds Wheels plans to raise about $4.2 million with the initial public stock offering of 1.25 million shares. About $2.6 million is earmarked to pay debts and buy back preferred shares of stock, according to the company's prospectus. The remaining $1.
BUSINESS
January 31, 1998 | JAMES S. GRANELLI, TIMES STAFF WRITER
Financially troubled Boyds Wheels Inc., overextended and pressed by falling sales, filed a bankruptcy petition Friday to seek protection from creditors while it continues to reorganize its operations and debts. The Stanton custom auto parts maker still has $12 million more in equipment and other assets than it has in debts, according to the petition. But that cushion was eroding as shrinking revenue made it difficult for the company to meet its obligations.
BUSINESS
January 8, 1998 | Dow Jones
Boyds Wheels Inc. signed an agreement for a New Mexico firm to distribute and market eight new billet wheel designs. Boyds Wheels said Price Truck Stop, Roswell, N.M., has made an initial order of $30,000 in addition to the marketing agreement. A Boyds Wheels spokesman said the arrangement is "potentially lucrative" because Price Truck Stop buys $4 million to $5 million in billet wheels per year. Boyds Wheels Inc.
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