APPCO’s former owner won the right to keep the 12 convenience store buildings he repossessed early this month, according to a ruling by Federal Bankruptcy Judge Marcia Parsons, the Johnson City Press reported. After the decision, a representative for Jim MacLean said MacLean’s property companies plans to gain possession of the other 16 stores he…
Alcoholic Beverage Customers Cautious
U.S. consumers remain somewhat cautious about their alcohol beverage spending, the Nielsen Company reported this month. Nielsen’s research revealed that a significant percentage of consumers claim they are going out less often now than before the economic downturn. Nearly half of consumers (47%) report going to bars or clubs less often, while an even greater…
Financial Reform Faces Crucial Vote
As the House and Senate prepare to vote on the financial reform bill—containing the Durbin amendment on interchange fees—this week, NACS’ message to retailers is that the battle is far from won. Three hurdles remain: passing the House, passing the Senate and getting signed into law by President Obama. “Until all three happen, actually, until…
Mid-Atlantic Acquires Uppy’s
Mid-Atlantic Convenience Stores, backed by equity firm Catterton Partners, has acquired a majority interest in Uppy’s Convenience Stores Inc. and 170 convenience stores/fuel stations from Exxon Mobil Corp. The transaction creates a leading convenience store operator in the Mid-Atlantic region with more than 200 convenience store operations in Maryland, Virginia and Delaware. Uppy’s was founded…
Swipe Fee Reform Advances
The U.S. House of Representatives and Senate negotiators have sided with retailers, reaching an agreement to include swipe fee reform provisions in the final financial services reform bill that is now on its way to Congress for a final vote. The provisions, known as the Durbin Amendment after the author, Senator Richard Durbin (D-IL), is…
The Pantry Expands Fresh Initiative
Cary, N.C.-based The Pantry Inc. this week unveiled its “Fresh Initiative” to serve customers new coffee, and fresh food options. Triangle-area residents will be the first to experience the new Bean Street Coffee and a broader assortment of pastries, warm breakfast sandwiches and fresh fruit. In addition, the stores will offer a variety of fresh…
Crude Oil Stays Steady
Crude oil prices remained steady above $76 per barrel on the New York Mercantile Exchange on Friday, June 25, according to United Press International. July delivery crude oil prices added 27 cents to $76.78 per barrel, while heating oil prices for July delivery added 0.0076 cents to $2.0648 per gallon. Reformulated gasoline blendstock prices added…
Terrible’s Hosts UFC Fighter
Terrible Herbst-Gas-Convenience Store, at 6716 S. Las Vegas Blvd in Las Vegas, is set to host Ultimate Fighting Championship (UFC) fighter Dan Hardy, who will be signing autographs for fans on Saturday, July 3 from 1:00 p.m. to 3:00 p.m. Hardy plans to be in Las Vegas to support fellow XYIENCE team fighter Wanderlei Silva…
Bankrupt Sunshine Wants Stores Back
Bankrupt Sunshine Energy, owner of APPCO, is fighting in the courts to regain its 12 closed convenience stores, which were repossessed by Management Properties Inc., the Johnson City Press reported. Meanwhile, Management Properties Inc. (MPI) wants Sunshine’s recently filed bankruptcy thrown out of court, so it can repossess another 16 stores. According to Sunshine Energy,…
Couche-Tard Versus Iowa
Alimentation Couche-Tard plans to challenges the constitutionality of several Iowa anti-takeover laws as part of the company’s hostile bid to purchase Casey’s General Stores, the Des Moines Register reported. Couche-Tard, which operates 5,883 convenience stores in the U.S. and Canada, filed court papers late last week alleging that three Iowa statutes contradict U.S. law, creating…