11/14/2025 | Press release | Distributed by Public on 11/14/2025 15:53
| Item 1.01 |
Entry into a Material Definitive Agreement. |
On November 10, 2025, Monro, Inc. (the "Company") entered into an amendment (the "Amendment") to the first amendment (the "First Amendment") under the consulting agreement with AlixPartners, LLP ("AlixPartners"). As previously disclosed, the Company is pursuing an operational improvement plan in consultation with AlixPartners. Under the Amendment, the Company extended the engagement of AlixPartners to December 27, 2025 for the next phase of implementation of the operational improvement plan. The Company will pay AlixPartners an aggregate fee of $2.2 million for the services outlined in the Amendment, which include embedding capabilities and transitioning tools, and supporting revenue acceleration efforts. Except as amended by the Amendment, the terms of the consulting agreement as amended by the First Amendment with AlixPartners remain in full force and effect.
The Company's President and Chief Executive Officer, Peter Fitzsimmons, also serves as a partner and managing director of AlixPartners. As previously disclosed, Mr. Fitzsimmons serves as the Company's President and Chief Executive Officer under an engagement letter between the Company and AP Services, LLC, an affiliate of AlixPartners.
The Company intends to file the Amendment as an exhibit to its next Quarterly Report on Form 10-Q.