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Reddi Brake Supply Corp

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BUSINESS
October 3, 1995 | JACK SEARLES
Reddi Brake Supply Corp., a nationwide chain of auto parts stores that is based in Ventura, basically broke even in the fiscal year ended June 30, despite record sales created by a sharp increase in the number of its outlets. Net income in fiscal 1995 was $66,000, or less than 1 cent a share, on sales of $46.7 million. This compared with the previous year's loss of $16.3 million, or $1.16 a share, on sales of $25.7 million.
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BUSINESS
May 6, 1997
Stocks that have fallen most over the previous 12 months. Initial public offerings and stocks recapitalized after April 19, 1996, are not included. *--* % change Price as 12-mo. 12-mo. Rank Company 52 weeks of 4/18/97 high low 1 Reddi Brake Supply Corp. -97% $0.05 $2.75 $0.03 2 Siskon Gold Corp. -96 0.09 2.63 0.06 3 Interscience Computer -94 0.28 5.13 0.22 4 American Cinemastores Inc. -94 0.16 3.00 0.06 5 CinemaStar Luxury Theater -92 0.63 8.44 0.50 6 Graphix Zone Inc. -92 0.41 8.38 0.
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BUSINESS
May 6, 1997 | CHRIS CHI
Reddi Brake Supply Corp. has hit the skids. The Ventura-based brake parts distributor entered bankruptcy proceedings in March and shuttered its 84 warehouses indefinitely. The 18-year-old company, which sells automobile undercarriage parts to mechanics, had grown rapidly, expanding from 11 to 99 outlets between 1993 and 1995. But the speedy expansion ran into problems. Company executives said an inefficient computer system and inadequate employee training procedures hurt performance.
BUSINESS
May 6, 1997 | CHRIS CHI
Reddi Brake Supply Corp. has hit the skids. The Ventura-based brake parts distributor entered bankruptcy proceedings in March and shuttered its 84 warehouses indefinitely. The 18-year-old company, which sells automobile undercarriage parts to mechanics, had grown rapidly, expanding from 11 to 99 outlets between 1993 and 1995. But the speedy expansion ran into problems. Company executives said an inefficient computer system and inadequate employee training procedures hurt performance.
BUSINESS
November 12, 1996 | BARBARA MURPHY
Shareholders of Reddi Brake Supply Corp. have approved a proposal to increase the number of authorized shares of common stock from 35 million to 75 million. The approval came during a special meeting of company stockholders last month. The increase makes available sufficient shares of common stock to meet existing obligations of Reddi Brake and to take advantage of future financing, acquisition or investment activities, company officials said.
BUSINESS
May 9, 1995
Reddi Brake Supply Corp. of Ventura said its earnings dropped slightly during the third quarter that ended March 31 while its revenues more than doubled compared to the same three-month period a year earlier. The automobile parts supplier reported third-quarter earnings of $161,266, down 4% from $167,405 the year before. It had sales of $12.25 million, up from $5.74 million a year earlier. The quarterly results bring Reddi Brake's year-to-date net income to $1.
BUSINESS
August 27, 1996 | BARBARA MURPHY
Reddi Brake Supply Corp. announced that sales for warehouses that have been open at least a year increased 16.7% to $5.1 million, compared to a $4.6-million sales figure for July 1995. This is the fifth consecutive month that warehouse sales increased significantly over the previous year's figures, Reddi Brake officials said. The company also reported that all Reddi Brake warehouses recorded July sales of $5.8 million, a 16.4% increase over the same month in 1995.
BUSINESS
November 26, 1996 | BARBARA MURPHY
Reddi Brake Supply Corp., which suffered a net loss of about $2 million during the three months ended Sept. 30, has filed an extension with the Securities and Exchange Commission for reporting those first quarter results. The company anticipates reporting net sales of $16.7 million for the three months ended Sept. 30, as compared to net sales of $15.3 million for the same period last year.
BUSINESS
May 6, 1997
Stocks that have fallen most over the previous 12 months. Initial public offerings and stocks recapitalized after April 19, 1996, are not included. *--* % change Price as 12-mo. 12-mo. Rank Company 52 weeks of 4/18/97 high low 1 Reddi Brake Supply Corp. -97% $0.05 $2.75 $0.03 2 Siskon Gold Corp. -96 0.09 2.63 0.06 3 Interscience Computer -94 0.28 5.13 0.22 4 American Cinemastores Inc. -94 0.16 3.00 0.06 5 CinemaStar Luxury Theater -92 0.63 8.44 0.50 6 Graphix Zone Inc. -92 0.41 8.38 0.
BUSINESS
November 26, 1996 | BARBARA MURPHY
Reddi Brake Supply Corp., which suffered a net loss of about $2 million during the three months ended Sept. 30, has filed an extension with the Securities and Exchange Commission for reporting those first quarter results. The company anticipates reporting net sales of $16.7 million for the three months ended Sept. 30, as compared to net sales of $15.3 million for the same period last year.
BUSINESS
November 12, 1996 | BARBARA MURPHY
Shareholders of Reddi Brake Supply Corp. have approved a proposal to increase the number of authorized shares of common stock from 35 million to 75 million. The approval came during a special meeting of company stockholders last month. The increase makes available sufficient shares of common stock to meet existing obligations of Reddi Brake and to take advantage of future financing, acquisition or investment activities, company officials said.
BUSINESS
August 27, 1996 | BARBARA MURPHY
Reddi Brake Supply Corp. announced that sales for warehouses that have been open at least a year increased 16.7% to $5.1 million, compared to a $4.6-million sales figure for July 1995. This is the fifth consecutive month that warehouse sales increased significantly over the previous year's figures, Reddi Brake officials said. The company also reported that all Reddi Brake warehouses recorded July sales of $5.8 million, a 16.4% increase over the same month in 1995.
BUSINESS
October 3, 1995 | JACK SEARLES
Reddi Brake Supply Corp., a nationwide chain of auto parts stores that is based in Ventura, basically broke even in the fiscal year ended June 30, despite record sales created by a sharp increase in the number of its outlets. Net income in fiscal 1995 was $66,000, or less than 1 cent a share, on sales of $46.7 million. This compared with the previous year's loss of $16.3 million, or $1.16 a share, on sales of $25.7 million.
BUSINESS
September 12, 1995 | LEO SMITH, SPECIAL TO THE TIMES
Bill Leider, the chief executive of Reddi Brake Supply Corp. since June, added the titles of president and chief operating officer Sept. 1, following the resignation of founder Bruce Douglass from those positions. The change in Reddi Brake's administrative ranks, said Leider, is representative of a shift in the company's overall business strategy. "Reddi Brake is at a stage in our development where we have reached the end of the purely entrepreneurial era," said Leider.
BUSINESS
August 22, 1995 | Jack Searles
A major lender has canceled plans to provide working capital to Reddi Brake Supply Corp., a fast-growing Ventura-based operator of a chain of auto-parts distribution centers. Reddi Brake says the Bank of New York Commercial Corp. terminated a commitment letter calling for the lender to replace its $7.2-million credit line with Japan's Sumitomo Bank. That arrangement is due to expire Oct. 31. Michael J.
BUSINESS
September 12, 1995 | LEO SMITH, SPECIAL TO THE TIMES
Bill Leider, the chief executive of Reddi Brake Supply Corp. since June, added the titles of president and chief operating officer Sept. 1, following the resignation of founder Bruce Douglass from those positions. The change in Reddi Brake's administrative ranks, said Leider, is representative of a shift in the company's overall business strategy. "Reddi Brake is at a stage in our development where we have reached the end of the purely entrepreneurial era," said Leider.
BUSINESS
August 22, 1995 | Jack Searles
A major lender has canceled plans to provide working capital to Reddi Brake Supply Corp., a fast-growing Ventura-based operator of a chain of auto-parts distribution centers. Reddi Brake says the Bank of New York Commercial Corp. terminated a commitment letter calling for the lender to replace its $7.2-million credit line with Japan's Sumitomo Bank. That arrangement is due to expire Oct. 31. Michael J.
BUSINESS
May 9, 1995
Reddi Brake Supply Corp. of Ventura said its earnings dropped slightly during the third quarter that ended March 31 while its revenues more than doubled compared to the same three-month period a year earlier. The automobile parts supplier reported third-quarter earnings of $161,266, down 4% from $167,405 the year before. It had sales of $12.25 million, up from $5.74 million a year earlier. The quarterly results bring Reddi Brake's year-to-date net income to $1.
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