AID AUTO STORES, INC. SIGNS LEASE FOR ITS FIRST AID AUTO SUPERSTORE; Grand Opening Anticipated For Early July 1995; Company Also Announces Opening Of Its 69th Aid Auto Store Franchise.
WESTBURY, N.Y.--(BUSINESS WIRE)--May 16, 1995--AID AUTO STORES, INC. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Symbols: AIDA, AIDAW, BSE See Bombay Stock Exchange.
See Boston Stock Exchange (BSE). Symbols: AID, AIDW) today announced that it has signed a lease for its first Aid Auto Superstore. The 7,000 square foot Superstore will be located in Queens, New York and is expected to open in early July 1995.
The lease is for an initial term of eight years and eight months with an option for an additional seven and a half years. As part of the lease, AID AUTO will also have exclusive use of a 48 foot billboard located directly on top of the Superstore.
Commenting on the announcement, Philip L. Stephen, chairman and chief executive officer of AID AUTO STORES, INC. stated, "The signing of this lease, our first for the Company's exciting new Superstore concept, marks the beginning of the implementation of our business plan with respect to Aid Auto Superstores. The location is in a highly trafficked area of Queens, New York. Additionally, the store will benefit as we advertise on the billboard located directly on top of the building."
Mr. Stephen continued, "We look forward to the grand opening of our first Superstore. AID AUTO's spokesman, former New York Knick star and current NBA Hall of Famer, Walt "Clyde" Frazier will be at the opening to sign autographs. Given Mr. Frazier's tremendous popularity, especially in the New York area, we expect a huge turnout."
In a separate announcement, the Company noted that its 69th Aid Auto Store franchise was recently opened. The newest store is located at 19 West Main Street in East Islip, New York East Islip is a census-designated place (CDP) and a hamlet located in the Town of Islip on unincorporated land in Suffolk County, New York. As of the 2000 census, the CDP had only 4,578 households and a total population of 14,078 persons. .
AID AUTO STORES, INC., is a major New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. franchisor, retailer and wholesaler of automotive parts and accessories, targeting both the do-it-yourself and commercial markets. Through its wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. Ames Automotive Warehouse, Inc., the Company supplies automotive aftermarket products for resale to non-automotive chain stores and independent jobbers and installers in the tri-state area.
CONTACT: Aid Auto Stores, Inc.
Philip L. Stephen
Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.
Lippert/Heilshorn & Assoc.
Jeffrey Volk - ext. 102
Lorin Cohen cohen
(Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. - ext. 123