Corporate News

Corporate news affecting the convenience store industry

Sodini: Will allow share buying under favorable market conditions to fund acquisitions, new stores

SANFORD, N.C. -- The Pantry Inc. said that its board has authorized a share repurchase program of up to $35 million for each of fiscal 2007 and fiscal 2008 but not to exceed an aggregate of $50 million. Peter J. Sodini, president and CEO, said Consistent with our goal to deliver long-term value to...

Filed Ch. 11 in January; 24 locations, six fuel supply agreements to be auctioned off

RICHMOND, Va. -- When Rennie Petroleum Corp. filed for Chapter 11 bankruptcy re-organization in January, CEO Donald J.Rennie said there were no plans to close the chain's 24 convenience stores. Both Rennie and company lawyer David Spiro expressed optimism that the protection from creditors would...

Realty arm closes on sale of shopping centers; c-stores unaffected

ROCKLAND, Mass. -- Charlie Fitzgibbons, president of Tedeschi Food Shops Inc., has announced the promotion of Joe Hamza to vice president of sales and marketing. Joe will be responsible and oversee all facets of sales, marketing, merchandising and advertising for all Tedeschi Food Shop, Li'l Peach...

After 35 years in business, Belcher Oil Co., Murray, Ky., has been sold to Max Arnold & Sons LLC, reported The Murray Ledger & Times.
Plans wider wholesale, retail distribution, acquisitions
Retailer selling 21 stores to strengthen asset base, trim smaller locations
Third "challenging" quarter forced chain to lower investor guidance.
Waddill's Markets Inc., doing business as Express Lane, filed for Chapter 11 bankruptcy protection on Friday.
Empire Petroleum strikes deal to sell half of company to Israeli concern
"Absolutely no substance to any speculation," Hayward said.

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