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- Announced Re-opening of nearly all
Florida and South Carolina
Collision Repair Centers –
WINNIPEG, MB, Oct. 4, 2022
/CNW/ - Boyd Group Services Inc. (TSX: BYD.TO) ("the Boyd Group",
"Boyd" or "the Company") announced that nearly all Gerber Collision
& Glass ("Gerber") locations that were temporarily closed in
the states of Florida and
South Carolina have now re-opened.
In total, 62 collision locations were ultimately impacted by
temporary closures as well as the Florida Glass America business.
As of today, four collision locations in Southwest Florida remain closed, and may
remain closed for several weeks. Where practical, staff have been
reassigned to alternate locations that were less severely
impacted.
"We are pleased to report that all of our employees have come
through this storm safely," said Timothy
O'Day, President & Chief Executive Officer of the Boyd
Group. "We will continue to support them as they come together to
rebuild and recover from this devastating event. Our thoughts are
with those who have been affected by the impact of Hurricane
Ian."
"These events will modestly impact our third and fourth quarter
results," said Timothy O'Day,
President & Chief Executive Officer of the Boyd Group. "In
addition to lost production and sales during the closures, we will
also have the impact of some additional costs, as well as
disruption to the business both before and after the closures. 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 November
9th."
"We are relieved that most of our locations have been able to
re-open and look forward to having these locations back to full
staffing and capacity in the near future," added Mr. O'Day. "We
thank all of our employees for getting these 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."
About Boyd Group Services
Inc.
Boyd Group Services Inc. is a Canadian corporation and controls
The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc.
shares trade on the Toronto Stock Exchange (TSX) under the symbol
BYD.TO. For more information on The Boyd Group Inc. or Boyd Group
Services Inc., please visit our website at
https://www.boydgroup.com.
About The Boyd Group
Inc.
The Boyd Group Inc. (the "Company") is one of the largest
operators of non-franchised collision repair centres in
North America in terms of number
of locations and sales. The Company operates locations in
Canada under the trade names Boyd
Autobody & Glass (https://www.boydautobody.com) and Assured
Automotive (https://www.assuredauto.ca) as well as in the U.S.
under the trade name Gerber Collision & Glass
(https://www.gerbercollision.com). In addition, the Company is a
major retail auto glass operator in the U.S. with operations under
the trade names Gerber Collision & Glass, Glass America, Auto
Glass Service, Auto Glass Authority and Autoglassonly.com. The
Company also operates a third party administrator, Gerber National
Claims Services ("GNCS"), that offers glass, emergency roadside and
first notice of loss services. For more information on The Boyd
Group Inc. or Boyd Group Services Inc., please visit our website at
(https://www.boydgroup.com).
Caution concerning
forward-looking statements
Statements made in this press release, other than those
concerning historical financial information, may be forward-looking
and therefore subject to various risks and uncertainties. Some
forward-looking statements may be identified by words like "may",
"will", "anticipate", "estimate", "expect", "intend", or "continue"
or the negative thereof or similar variations. Readers are
cautioned not to place undue reliance on such statements, as actual
results may differ materially from those expressed or implied in
such statements. Factors that could cause results to vary include,
but are not limited to: employee relations and staffing; margin
pressure and sales mix changes; supply chain risk; pandemic risk
& economic downturn; acquisition risk; operational performance;
brand management and reputation; market environment change;
reliance on technology; changes in client relationships; decline in
number of insurance claims; environmental, health and safety risk;
climate change and weather conditions; competition; access to
capital; dependence on key personnel; tax position risk; corporate
governance; increased government regulation and tax risk;
fluctuations in operating results and seasonality; risk of
litigation; execution on new strategies; insurance risk; interest
rates; U.S. health care costs and workers compensation claims;
foreign currency risk; low capture rates; capital expenditures; and
energy costs and BGSI's success in anticipating and managing the
foregoing risks.
We caution that the foregoing list of factors is not
exhaustive and that when reviewing our forward-looking statements,
investors and others should refer to the "Risk Factors" section of
BGSI's Annual Information Form, the "Risks and Uncertainties" and
other sections of our Management's Discussion and Analysis of
Operating Results and Financial Position and our other periodic
filings with Canadian securities regulatory authorities. All
forward-looking statements presented herein should be considered in
conjunction with such filings.
SOURCE Boyd Group Services Inc.