CarParts.com announces process to explore strategic alternatives

CarParts.com (PRTS) announced that it is engaged in a process to explore strategic alternatives to maximize shareholder value, including a possible sale of the company, in response to inbound strategic inquiries the company has received. To support this process, CarParts.com’s Board of Directors has engaged Craig-Hallum Capital Group as its financial advisor and Wilson Sonsini Goodrich & Rosati, Professional Corporation as its legal counsel. CarParts.com has not set a timeline for completion of the exploration of strategic alternatives. There can be no assurance that this process will result in any transaction or other strategic change.