Company News

Market's Economy Forces 3 Store Closings

Retailer execs seek 'new opportunities for their real estate'

SUPERIOR, Wis. -- Three Inter City Oil (ICO) convenience stores in Superior, Wis., will shut their doors by the end of November, according to a report by The Superior Telegram.

Gasoline sales ended Nov. 7 at one of the locations and will end Nov. 14 at the other two sites.

Superior’s economy cannot support the market saturation in the convenience store and retail petroleum industry, especially after the closings of Target and Kmart, said Judy Weber, owner of ICO, to Fox 21 in a separate report.

ICO will continue to operate its bulk petroleum and heating oil divisions as it has for almost 70 years and will work to redevelop its Superior sites while operating convenience stores in Wisconsin and Minnesota, said the Telegram.

ICO developed a Superior presence after the acquisition of Baille Oil in the mid-1980s, the report said.

“We filled a niche in Superior … and now ICO’s executive team is charged with finding new opportunities for their real estate,” Weber told the newspaper.

Following the closures, Duluth, Minn.-based Inter City Oil will operate seven convenience stores with fuel in Minnesota and four in Wisconsin, most branded Marathon. One location offers diesel and one has a car wash.

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