Founded in Bellevue, WA in 1987, and now headquartered in Auburn, this popular car audio and stereo store is calling it quits.
WARN Alert from Employment Security indicates the company is closing down
Car Toys has filed for bankruptcy, according to FOX 12 TV news and other sources in Western WA.
The alert from Employment Security said 177 workers will be laid off with an expected “separation’ date of October 20th of this year. The company filing in Western WA indicated they have around $10 million in assets and $50 million in liabilities.
The company has a total of 450 workers.
The company had struggled for a number of years recently, and much of the damage accelerated when their sister company Wireless Advocates (WA), abruptly closed its doors in December of 2022.
WA closed and laid off its 1,800 workers after losing its deal to operate the cellphone kiosks at 535 Costco Stores. The ripple effect, said business experts, was too much for Car Toys to absorb, and they have now filed for Chapter 11.
12 of the stores are being sold to workers or competitors, and the other 35 will be closed. Car Toys, at its peak, had 47 stores in four states, including the 14 in WA, and 2 of those were in Spokane.
LOOK: 50 Famous brands that no longer exist
Gallery Credit: Liz Barrett Foster