‘Consumers pulling back’: Autobarn owner Bapcor in $500m wipeout

Simon EvansSenior reporter

May 2, 2024 – 11.57am

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Bapcor’s shares plunged as much as 35 per cent after the company handed down another hefty profit downgrade and flagged write-downs.

More than $500 million in market value was wiped from Bapcor when a two-day trading halt was lifted on Thursday, concluding an extraordinary turn of events where CEO-elect Paul Dumbrell pulled the pin on the top job two days before he was due to start on May 1.

Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.