Zips Car Wash emerges from bankruptcy
In 2020, Zips Car Wash purchased four Magic Car Wash locations
SHEBOYGAN — Zips Car Wash, one of the largest privately-held car wash operators nationwide, announced that it has successfully completed its financial restructuring and emerged from Chapter 11 Bankruptcy.
The Plano, Texas-based company owns locations in Sheboygan and Saukville. Earlier this year, they closed locations in Fond du Lac and Manitowoc.
Through its financial restructuring, Zips Car Wash reduced its debt obligations and secured access to additional liquidity through a new revolving credit facility to support future strategic initiatives. The company will continue to operate as usual with no change to its service offerings, customer experience or value proposition for ZIPS Unlimited Wash Club Members. The company also announced the appointment of industry leader Pete Nani as its new Chief Executive Officer.
Nani brings more than three decades of car wash industry experience and a proven track record of excellence to Zips, having played a pivotal role in shaping iconic car wash brands, including Mister Car Wash and Wash Depot Holdings. Most recently, Nani served as CEO of Clean Freak and Rainstorm Car Wash, owned by Circle K, where he established and scaled Circle K’s express car wash platform.
In 2020, Zips purchased the Magic Car Wash locations on Washington Avenue in Sheboygan, Calumet Avenue in Manitowoc, West Johnson Street in Fond du Lac and East Green Bay Avenue in Saukville.
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