Cody's Completes Deal for Six Express Lane C-stores
SPRINGFIELD, Mo. -- Late last month, Cody's Convenience Stores acquired six bankrupt Express Lane stores for $1 million, making it the second largest c-store operator in southwest Missouri, the Springfield Business Journal reported.
The purchase, which closed in bankruptcy court Dec. 28, grew the Cody's chain to 25 stores, surpassing Springfield, Mo.-based Rapid Roberts, with 23 area stores. The leader in the region is Kum & Go, with 33 stores, according to the report.
Express Lane's parent company, Waddill's Markets Inc., filed for Chapter 11 bankruptcy protection in July, the paper reported, citing U.S. Bankruptcy Court filings.
Cody's began operating the stores in late September under a temporary agreement, Curtis Jared, executive vice president for the chain's parent company, Jared Enterprises, told the paper.
The purchase, which closed in bankruptcy court Dec. 28, grew the Cody's chain to 25 stores, surpassing Springfield, Mo.-based Rapid Roberts, with 23 area stores. The leader in the region is Kum & Go, with 33 stores, according to the report.
Express Lane's parent company, Waddill's Markets Inc., filed for Chapter 11 bankruptcy protection in July, the paper reported, citing U.S. Bankruptcy Court filings.
Cody's began operating the stores in late September under a temporary agreement, Curtis Jared, executive vice president for the chain's parent company, Jared Enterprises, told the paper.