LIBERAL, Kan. -- Less than a week after a 13-store chain in Kansas reported a major [financial] bump in the road that it hoped to iron out with the help of an interested party, Wes-Kan Oil Co. filed for Chapter 11 bankruptcy protection last week.
With outstanding debts totaling about $927,000, the company listed its largest creditors as Valero Energy Group, its primary gasoline supplier, which it owes about $378,000; Cenex Garden City CoOp, which is owed $176,000; and the Kansas Lottery, which is owed $100,000, according to bankruptcy court filings.[image-nocss]
Attempts to reach company president Ronda Widener or its attorney for comment were unsuccessful at presstime. On January 19, Widener told CSP Daily News, We had a major bump in the road this week, but right now all of our stores are open and we're doing business as usual.
Widener declined to go into detail about the issue but said the chain was working with the interested party to keep the stores open for business. It's moving very fast. I don't know for sure when we'll be ready to release any other information, she said. We're talking with an interested party. That's where we're at right now.
Four days later, on January 23, Widener filed the voluntary bankruptcy petition, which states the company intends to go through a reorganization andeventually emerge from bankruptcy protection.
Liberal, Kan.-based Wes-Kan operates 13 stores under the Convenience Plus brand, selling ConocoPhillips and Valero gasolines. It also owns and operates a fuel storage facility.
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