DISTRESSED DAILY: American Tire Falls Flat as Costs Keep Rising

American Tire Distributors Inc., the largest wholesale distributor of passenger car and truck tires in the U.S., could be driven deeper into distress a year-and-a-half after filing for bankruptcy if it doesn’t get a handle on its operating expenses.

• S&P Global Ratings downgraded American Tire to CCC+ on Monday, citing rising costs relative to sales and profits.
• The company has struggled to bounce back after its two biggest suppliers, Goodyear Tire and Rubber Co. and Bridgestone Corp., abruptly decided to pull their products from its shelves and form their own distribution venture in 2018.
• American Tire emerged ...