REXDALE, Ontario (May 11)—Receivership, bankruptcy and an alleged double-deal have led to the break-up and likely end of Canadian tire maker and distributor United Tire & Rubber Co. Ltd. The assets of Rexdale-based United, founded as a tire distributor in 1944, were sold off by its receiver and manager Ernst & Young Inc., which took control of the financially-strapped company Feb. 15. New York-based Pensler Capital Corp., which owned 81 percent of United, wanted to reorganize United and continue production in Rexdale.
Bankrupt United Tire broken up after 56 years of operation
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