Several c-stores set for auction bidding - Professional Carwashing & Detailing

Several c-stores set for auction bidding

McALLEN, Texas — Aziz Convenience Stores LLC filed for bankruptcy protection last August.

McALLEN, Texas — Bids are now being accepted by Keen-Summit Capital Partners for the purchase of 28 Aziz Quick Stop convenience stores in Southern Texas at a minimum bid of $29.6 million, according to CSPnet.com.

Aziz Convenience Stores LLC filed for bankruptcy protection last August, stated the article.

After considering several options, the company chose to liquidate its retail sites, added the article.

The deadline for the auction bid is Wednesday, July 15, continued the article, and the auction will take place at 9 a.m. (Central) on Monday, July 20.

Aziz entered into a “stalking horse” purchase and sale agreement with Sunoco LP (formerly Susser Petroleum Partners LP) earlier this year to sell the c-stores and related assets for $28 million in addition to “the value of fuel inventory, supplies and merchandise inventory, reported the article.

Due to this agreement, Sunoco LP is positioned as the lead bidder for the properties, noted the release, however stronger bids can still win the c-stores.

You can find the article here.

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