Key auto-service company files for Chapter 7 bankruptcy liquidation
Published 7:26 am Wednesday, January 24, 2024
- Robots have a mixed track record.
Robots have replaced people in a lot of areas.
On a high-end level, Amazon has made robots a massive part of its warehouses. They work alongside humans automating large parts of the order-picking and -packing process.
In other cases, robots do work that humans would prefer not to. Millions of people own a robot vacuum, devices that can map your home and keep them free of dust, pet hair and other matter. That’s not exactly Rosey the Robot maid “The Jetsons” promised, but it’s still impressive technology that makes people’s lives easier.
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Robots have begun infiltrating fast food, and while the cost will likely protect those jobs for many years, it’s probably silly to have humans make Big Macs, Whoppers, and other food where the recipe and cooking time never changes.
We’re not being overrun by robots just yet and the humanoid-style robots seen in science fiction are more gimmick than reality, but robots have become a key part of many businesses.
In theory, robots work best when they perform repetitive work that’s difficult for humans. That’s why automated warehouses have become common while robot bartenders have been mostly a novelty that few people need to see more than once.
Robots should be able to help a lot of businesses, and using a robot to change tires seemed like a good idea. Mechanics and auto-supply stores have increasingly become more reliant on technology, and robots that change tires seemed like a logical evolution.
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RoboTire started with great promise
Using robots to change tires makes a lot of sense. In theory, RobotTire, which launched in 2019, seemed to solve a problem,
The company offered an automated system that could be deployed in auto-repair shops, fleet operators and dealerships everywhere. RoboTire counted Discount Tire, a national tire retailer, as its largest funder when it raised money in October 2021.
“Our focus is to revolutionize the way tires are changed, and collaborating with Discount Tire — an iconic automotive and tire industry leader — will make our innovative technology more widely available to consumers who need both speed and service as part of their daily lives,” RoboTire Chief Executive Victor Darolfi said at the time.
“We are immensely proud to receive this backing from our investors and know this is just the first turn down a long road to success for our company.”
RoboTire’s robots could change tires much faster than humans “reducing multiple-hour experiences to under 15 minutes,” according to the company.
The idea seemed as if it could spread to mom-and-pop repair shops, national chains, and automotive suppliers that did not previously offer tire-changing services.
RoboTire files for Chapter 7 bankruptcy protection
Despite its promise, RoboTire has filed for Chapter 7 bankruptcy and will be liquidated. The company, which filed for bankruptcy in Delaware, reports debts of between $10 million and $50 million.
The company has not yet publicly said how its remaining assets — which are also valued between $10 million and $50 million — will be sold. The company’s patents likely have value, and Discount Tire, its largest investor, would have an interest in some of the company’s assets including its robots.
“Discount Tire is excited to support RoboTire in the development of new and innovative technologies that drive a better customer experience,” said Discount Tire Chief Experience Officer Tom Williams at the time of his company’s investment in RoboTire.
“As customer expectations around the ‘buy and book online’ experience and our ability to deliver reduced wait times continue to grow, we will continue to pursue automation and enhancements that ensure an inviting, easy, and safe experience for all our customers.”
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