Dive Brief:
- The Store convenience stores, a 25-site chain in Wisconsin and Michigan operated by Team Schierl Companies, will cease operations on July 31, according to an emailed announcement from the company.
- The company entered into a sale-leaseback agreement with a division of Mountain Express in 2022. With the latter’s bankruptcy last year, the land and buildings are now owned by a property investment company, which told Team Schierl on Tuesday that it “will not be extending its current operational agreement.”
- The Store’s upcoming closure is the latest impact stemming from the Mountain Express bankruptcy.
Dive Insight:
The effects of the Mountain Express bankruptcy continue to ripple through the U.S. c-store landscape. As the bankruptcy case’s trustee sorts through the remains of the company, numerous sites have changed hands or shuttered.
For example, SQRL first bought over 200 of the sites in October to add to its existing footprint. After facing liquidity issues, according to a company memo, it has sold its locations to a new business called Gas Hub.
The Store dates back to 1977, according to Team Schierl’s website, when the company bought nine c-stores and rebranded them. Over the years, it expanded through both new builds and acquisitions.
When the company sold its convenience store sites to West Hill Ranch Group in the summer of 2022, Team Schierl retained ownership of the equipment and maintained all agreements with vendors, in addition to employing all the associates. The company’s announcement said it aims to work with “the next operator” of its 25 locations to “establish a transition for all Associates to be hired in their current positions.”
“The Store appreciates all the hard work of so many dedicated Associates and the communities that have embraced and supported its family-owned business for almost 50 years,” Team Schierl said in the announcement.
Team Schierl’s other businesses include Schierl Tire and Auto Service as well as some Subway restaurants. The company said these businesses will not be impacted by its c-store closures.
