The US car parts distributor unveiled a poor performance for the year to 31 December 2000 as operating expenses and an 'incredibly tough' market hit home. Sales jumped 12.3% to £74.7m on the acquisition of AEW, which runs eight 'Discount Auto Parts Stores' in Florida, Alabama and Mississippi, and the opening of 13 new 'Parts City' stores, taking the total number to 21. Nevertheless, pre-tax losses widened from £0.2m to £5.2m as a result of increased debt levels built up to fund the AEW deal, the Parts City roll-out and an £750,000 exceptional charge relating to litigation with its former chief executive. Bright spots included a 21% sales rise in the continuing Parts City stores, some downsizing of its workforce and the closure of 15 under-performing company stores. In addition, the board is optimistic regarding AEW, with the acquisition's stores having an average turnover 'significantly larger' than the average achieved by the group's other outlets. Due to the expected continuation of sluggish market conditions, the board has appointed the Bank of America to help it decide on a future direction to boost its shareholder value.