The transaction is subject to certain unspecified closingconditions and is expected to reach completion by the end of thismonth. The company will use the proceeds to repay debt.
Neither the buyer nor the property locations were identified ina November 2 statement issued by the locally based company or in afiling with the SEC on that date. A spokeswoman for Pep Boys tellsGlobeSt.com the questions were referred to the CFO who was notavailable for comment by deadline.
The company operates 592 stores in 36 states and Puerto Rico.During 2006, as earnings and common stock experienced significantdeclines, it enlisted Goldman Sachs to evaluate strategicalternatives, including a potential sale.
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