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Letter to the Editor

Sterling Divests Lake Villa, IL Location

Natick, MA -- Sterling Autobody Centers has announced the divestiture of a single store location. When Allstate acquired Sterling in May, the insurer announced plans to expand the Sterling network. To date, the Sterling acquisition has performed better than expected and the expansion is proceeding as planned. According to a press release, while expansion has been the focus of Sterling activities, the company had anticipated that an existing store location might not match Sterling's strategic footprint, claim volume, or the location of Allstate's customers.

Sterling sold the Lake Villa, Illinois store to its former owners. "We have decided to divest the Lake Villa location due to a couple of key factors," said Sterling CEO Jon McNeill. "First was the size of the shop -- a 72,000 square foot shop doesn't fit our operating model, nor did it fit Allstate's claim footprint. The rest of our shops in Chicago do. In addition there was a clear difference in operating style and that led us to make the decision that it would be better to part ways. We wish the Bockwinkels the best. The Sterling team looks forward to a very exciting 2002 with multiple store openings in process."

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