Ides Capital Submits a Shareholder Proposal to Monro
July 08, 2021 at 11:01 am EDT
Share
On July 8, 2021, Ides Capital Management LP announced that it has submitted a shareholder proposal to Monro, Inc. asking for board to adopt recapitalization plan. Further, Ides Capital added that it has requested the Board to take all practicable steps in its control to initiate and adopt a recapitalization plan for all outstanding classes of stock to have one vote per share in each voting situation and eliminate any veto power held by one class of stock over the voting power of another class of stock.
Monro, Inc. is an operator of retail tire and automotive repair stores in the United States. The Company offers replacement tires and tire related services, automotive undercar repair services, as well as a range of routine maintenance services, primarily on passenger cars, light trucks, and vans. The Company provides other products and services for brakes; mufflers and exhaust systems; as well as steering, drive train, suspension, and wheel alignment. The Company's retail tire and automotive repair stores operate primarily under the brands Monro Auto Service and Tire Centers, Tire Choice Auto Service Centers, Mr. Tire Auto Service Centers, Car-X Tire & Auto, Tire Warehouse Tires for Less, Ken Towery's Tire & Auto Care, Mountain View Tire & Auto Service, and Tire Barn Warehouse. It has approximately 1,299 Company-operated retail stores located in 32 states and over 76 Car-X franchised locations. Its subsidiaries include Monro Service Corporation; Car-X, LLC; and MNRO Holdings, LLC.
MONRO, INC. 
