Speedway, Couche-Tard Acquire Gas City Stores

Couche-Tard ends up with five stations, while Speedway plans to pay more than $70 million for 27 locations.

Speedway, a subsidiary of Ohio-based Marathon, is set to acquire 27 stores from bankrupt Gas City, while Alimentation Couche-Tard also acquires a handful of locations, the Chicago Sun-Times reported.

Gas City filed for bankruptcy last October and held an auction earlier this month to sell its stations in Illinois, Indiana, Arizona and Florida.

Speedway plans to pay more than $70 million for the 27 stations. Originally, Gas City had an agreement to sell 46 of its stations to Alimentation Couche-Tard, but following the auction Couche-Tard ended up with only five Illinois outlets in Monee, Orland Hills and Palos Park.

TravelCenters of America also is purchasing Gas City stores in Indiana, as well as a station in Monee, Ill., while 7-Eleven is buying another Gas City in Monee, Ill.

William J. McEnery started Gas City with a single station on Chicago’s Southwest Side. When the trust that owns the stations filed for bankruptcy, it listed liabilities in excess of $100 million, Chicago Sun-Times reported.

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