Moody’s earlier this fall downgraded Service King’s probability of default rating to Caa2, suggesting the national collision chain poses a higher risk of being unable to repay lenders. Service King has a $100 million revolving [...]
Service King CEO David Cush last month said the company plans to restart repairs at 25 more shops in October, describing this as likely the final batch of satellite-to-full production reversions for the year. It [...]
Two major national business organizations on Tuesday urged the White House and congressional lawmakers to continue negotiations on a COVID-19 stimulus bill following Republican President Donald Trump tweeting he had halted negotiations until after the election [...]
Toyota in August slashed its dealership ownership requirement for certified collision repair facilities from a 51 percent interest to a 15 percent stake, the OEM confirmed this week. Toyota national manager for service and collision [...]
Forty percent of shops who billed for work to inspect seat belts saw insurers reimbursing the charge “always” or “most of the time,” the newest “Who Pays for What?” survey found. “This is one of [...]
A Toyota collision representative this week described pride in the new virtual management training the OEM created for collision repairers following the COVID-19 pandemic. However, the OEM also had to temporarily restrict its training to [...]
Smartphone telematics provider Sfara this summer announced it and Mercedes parent company Daimler had spent months testing phone-based crash detection. Sfara said it would provide its technology to the OEM “for an as yet undisclosed [...]
Toyota in August slashed its dealership ownership requirement for certified collision repair facilities from a 51 percent interest to a 15 percent stake, the OEM confirmed this week. Toyota national manager for service and collision [...]
Allstate on Wednesday said it would cut costs with a restructuring “which will impact approximately 3,800 employees primarily in claims, sales, service and support functions.” The Wall Street Journal, which interviewed CEO Tom Wilson for [...]
The Virginia Bureau of Insurance confirmed earlier this year and again last month that policyholders can use their appraisal clauses to obtain a ruling on the cost of repairing a vehicle. We received a copy [...]
