Potential bidders have emerged for the acquisition of AutoZone, the large privately owned automotive parts retailer and wholesaler active in southern Africa that was placed in voluntary business rescue effective from 1 July 2024.

Moneyweb reports that this has made it necessary for AutoZone’s appointed business rescue practitioners (BRPs), Piers Michael Marsden and Jenna Lee Osborne from Matuson & Associates, to request a further extension for the publication of AutoZone’s business rescue plan from the major creditor of the company.

This is according to a notice published by the BRPs last week.

The notice confirmed that a further extension for the publication of the plan from 19 August to 2 September has been approved by the requisite majority of the creditors’ voting interests in the company.

AutoZone director and CEO Dion de Graaff previously said in a sworn statement in support of the company entering voluntary business rescue proceedings he has had three interested third parties that have expressed interest in investing in the company’s business but an agreement in this regard had not been concluded to date.

Full Moneyweb report