UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On May 30, 2025, Monro, Inc. (the “Company”) entered into an amendment (the “Amendment”) to the consulting agreement with AlixPartners, LLP (“AlixPartners”). As previously disclosed, under the consulting agreement, the Company agreed with AlixPartners that the cost of additional services provided by AlixPartners to implement the plan developed from its detailed assessment of the Company would be at least $4.0 million. Under the Amendment, the Company formally engaged AlixPartners for the initial phase of these implementation services. The Company will pay AlixPartners an aggregate fee of $5.85 million through the end of July 2025 for the services outlined in the Amendment, which include the previously disclosed store closure plan, improving customer experience and the Company’s selling effectiveness, driving profitable customer acquisition and activation, and increasing merchandising productivity, including mitigating tariff risk. Except as amended by the Amendment, the terms of the consulting agreement 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MONRO, INC. | ||||||
| (Registrant) | ||||||
| June 5, 2025 | By: | /s/ Maureen E. Mulholland | ||||
| Maureen E. Mulholland | ||||||
| Executive Vice President – Chief Legal Officer and Secretary | ||||||