The station had been scheduled to be auctioned on February 3 by order of the Warren County Common Pleas Court Civil Division. But Midwest Auctioneers & Realty confirmed for the newspaper that the auction has been canceled.
The company estimated both assets and liabilities of between $100,000 and $500,000. The company's unsecured claims included a $100,000 loan to buy out [image-nocss] the interest of a former member, Ashok Kishinchand; and disputed claims for breach of contract with three people: Anuj Desai of Dayton (listed in the newsletter as a station manager and partner in the business); Elizabeth Layer of Franklin; and Richard Booker of Franklin.
According to a Spring 2007 Springboro business newsletter cited by the paper, Hitesh Patel of Miamisburg, Ohio, and his wife, Shyamal, bought the station in July 2006 and extensively remodeled the convenience store.
Separately, signs posted on the doors of the Te-Khi Travel Court & Truck Stop on Tuesday informed customers and employees that the truckstop, fueling station and restaurant facility was closed, reported The Battle Creek Enquirer.
Vince Bedwell, operations manager of the Emmett Township, Mich., facility, the adjoining Clyde's Side Door Bar and the Tekon Truck Stop at M-60 and Interstate 69 in Tekonsha, Mich., said in a written statement obtained by the paper that all three facilities were closed and the organization had been going through bankruptcy reorganization since 2004.
Combined, the businesseswhich opened in 1963employed about 115 people, Bedwell said.
"Despite the local and national economic crisis and dramatic changes in the petroleum industry over the past several years, we have been able to maintain the business for longer than many independent truck stop operators," Bedwell said in the statement. "We have been unsuccessful in our efforts to secure refinancing sufficient to satisfy the primary creditor or a smooth transition to new ownership, and have determined to relinquish operations immediately."
The sudden closing was not without minor incident, said the report. Lt. Tony Geigle of the Emmett Township Department of Public Safety said officers were called to Te-Khi at about 6:00 a.m. Tuesday. The caller was concerned about someone locking the doors and cleaning out the cash register. Geigle said it turned out to be Te-Khi staff preparing the facility for closure.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.