Auto World Inc. $($Auto World$),$ a calendar year$-$end SEC registrant, is a leading automotive retail and service chain. Auto World operates exclusively in the automotive aftermarket industry. Auto World is engaged principally in the retail sale of automotive parts, tires, and accessories, automotive repairs and maintenance, and the installation of parts. Auto World has two primary operating unit formats: $(1)$ Auto Boyz Retail Centers $($Auto Boyz Centers$)$ and $(2)$ Pit Stop Service & Tire Centers $($Pit Stop Centers$).$ As of April $15,2007,$ Auto World operated $120$ stores consisting of $90$ Auto Boyz Centers and $30$ Pit Stop Centers. Auto World operates approximately $1,800,000$ gross square feet of retail space. The Auto Boyz Centers average approximately $20,000$ square feet per store. The $30$ Pit Stop Centers offer service labor, installed merchandise, and tires. Auto World maintains distinct advertising and branding policies for each format. The Auto Boyz Centers are usually placed in high traffic areas within major metropolitan cities. Auto World invests heavily in marketing and advertising for the Auto Boyz Centers. For example, Auto World purchases commercial airtime on local and national television stations and relies heavily on local newspaper advertising, frequently including discount coupons and promotions in newspaper distributions. Auto World typically places the Pit Stop Centers within $10$ miles of the Auto Boyz Centers primarily to facilitate a close supply line of parts, if needed. Auto World also relies on television and newspaper advertising for the Pit Stop Centers.

During the second quarter $($on April $15,2007),$ Auto World announced a decision to close all $30$ freestanding Pit Stop Centers by June $30,2007,$ under a new restructuring plan. The following is a copy of the press release issued by Auto World:$$FOR IMMEDIATE RELEASE

FROM: Cal Naughton, Jr$.,$ Investor Relations DATE: April $15,2007$

Auto World Inc. announced that it recently completed an exhaustive study of its current operating structure and determined that the most efficient delivery of retail products and automotive services to its customers would be under a $$one$-$stop$$ shopping approach. As a result, Auto World plans to close its $30$ freestanding Pit Stop Service & Tire Centers and begin providing these services out of its existing Auto Boyz Retail Centers. Ricky Bobby, chairman and chief executive officer, said, $$Overall$,$ we have made considerable progress in the last three years in strengthening our portfolio of businesses at Auto World. The actions we are announcing today will further enhance our ability to increase market share and improve sales and earnings at our company by providing our customers with $$one stop$$ shopping for our $$do$-$it$-$ yourself$$ retail customers and our $$do$-$it$-$for$-$me$$ customers.$$

The $30$ facilities are expected to be closed on or before June $30,2007.$ It is also expected that Auto World$$s Auto Boyz Retail Centers will be fully prepared to take