The court overseeing EZ Lube’s bankruptcy reorganization has scheduled a hearing for Oct. 30 to confirm the company’s reorganization plan. You can purchase the complete bankruptcy reorganization plan (for $8), but to very quickly sum it up, the “new” EZ Lube will be governed by a five-person board of managers, made up of people appointed by various creditors and the court. The board will oversee most major decisions made by EZ Lube management.
At the time of the filing, EZ Lube operated 78 facilities in Southern California and four in Arizona. As of the reorganization filing, the company operated 75 facilities in all. The company hopes to return to profitability in 2010 by bumping car counts slightly and increasing ticket averages by nearly $4 per car in 2010 and a further $3+ per car in 2011. This will be accomplished by adding services like A/C recharging, smog inspections and brake fluid flushing.