Pep Boys (PBY) fell 12.5% in AH trading after announcing its planned sale to P-E firm Gores...

|About: Pep Boys Manny Moe & Jack (PBY)|By:, SA News Editor

Pep Boys (PBY) fell 12.5% in AH trading after announcing its planned sale to P-E firm Gores Group has been called off. The press release offered little by way of explanation, though Gores hinted earlier this month it was souring on the deal after a "serious deterioration" in PBY's business. Gores will pay Pep Boys a $50M breakup fee.