Bankrupt Jump Oil Divests Stores

Some 46 gas stations are for sale, as well as other assets.

Jump Oil Co. Inc., a petroleum marketing and convenience store company headquartered in Jefferson City, Mo., is selling its chain of 46 gas stations and convenience stores. 

In addition, the chain is divesting one other retail location, the related dealer leases and fuel supply agreements, and five unimproved parcels of real estate. All assets will be sold through a structured sale process managed by Matrix Capital Markets Group Inc.

The sale process is being conducted in accordance with the Jump’s Chapter 11 case in the U.S. Bankruptcy Court for the Eastern District of Missouri.

Jump was facing 50-99 creditors, estimated assets of $10-$50 million compared to estimated liabilities of $10-$50 million at the time of its bankruptcy filing, according to the Feb. 13 bankruptcy report, as reported by the St. Louis Business Journal. Some of the creditors seeking payment from Jump Oil included Circle K of Tempe, Ariz., with a claim of $5 million; and ConocoPhillips of Chicago, with a claim of nearly $3.2 million.

 

 

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