‘King Appliance Repair’ – ‘Bobs’ Repair
KING Appliance Repairs has returned to its roots, as its flagship King Appliance repair business has reopened after a two-year hiatus.
“I’m really happy to have returned to King Appliances and I’m looking forward to doing this once again,” Bob Barker, president and chief executive of King Appliant, said in a statement.
Barker, who co-founded King Appliants in 2003, said he was honored to be able to continue serving his customers.
The King Appliiance Repair franchise has operated under the King brand since 2004.
King Appliances operates about 600 repair shops in North America, Europe, Asia and Australia.
It was purchased by UnitedHealth in August 2014 for $1.4 billion.
During a conference call with analysts on Tuesday, Barker said he has been asked to remain in the position for a while, although he wouldn’t say when.
This is the first time in the company’s history that we’re not a franchised business,” Barker said.
He said King Applies business is in a steady decline, as the cost of maintenance increases.
According to a May study by consulting firm Nielsen, King Applietres revenue fell from $10.9 billion in 2011 to $7.7 billion in 2016.
Analysts are projecting a similar decline for the brand.
In February, King announced it would shut down the King Appliauses service center, and Barker said in March he was willing to work with King to restore services.
However, a new business called Bobs is taking over operations.
The new company will be based in Los Angeles and offer a $250,000 incentive program to help King repair a $200,000 damage to the King logo.
Business Insider contacted Barker on Tuesday about whether he plans to stay in the role or if he intends to retire.
After being at the helm for two years, Barker says the business is now back to normal and will continue to work toward its goal of becoming a global brand.