All Boyd Group Collision Repair Centers Affected by Hurricane Reopen
Sept. 27, 2017—Boyd Group Income Fund announced today that all 63 collision repair shops (most of which are Gerber Collision & Glass facilities) in Florida and Georgia that were temporarily closed have now reopened.
Nearly all employees have been able to return to their homes and to their work, and none of the affected locations sustained damage that will result in any long term business interruption.
"We are pleased to report that all of our employees have come through this storm safely," said Tim O'Day, president and COO of the Boyd Group. "We continue to support them and our local communities as they are coming together to rebuild. Our thoughts are with those that have been negatively affected by this and other recent storms."
"While we are certainly thankful that the outcome from the hurricane and related storms is much less severe than what might have been anticipated in the days leading up to the storms, we do expect that these events will have a noticeable impact on our third quarter results," said Brock Bulbuck, CEO of the Boyd Group. "In addition to lost production and sales during the closures, which ranged from one to eight days, we will also have the impact of some extra costs, as well as disruption to the business both before and after the closures. Our glass business will also be negatively impacted. Our teams are currently assessing the full impact of the storm and we will provide further details when we announce our third quarter earnings results on Nov. 8."
"We are relieved that all centers have largely returned to normal operations and we are not expecting an impact into the fourth quarter," added Bulbuck. "We thank all of our employees for getting our locations back up and running so quickly and for their continuing commitment to serving our customers and insurance partners with the highest levels of service and quality."