DES MOINES, Iowa — Less than a year after acquiring the Allsup's convenience store chain, Yesway will consolidate corporate offices and employee headcount.
The first move in Yesway's plan is to eliminate 18 positions at Allsup's headquarters in Clovis, N.M., in September, according to Eastern New Mexico News.
Des Moines-based Yesway — operated by BW Gas & Convenience, an affiliate of Beverly, Mass.-based Brookwood Financial Partners — sent a letter to Curry County (N.M.) Commission Chairman Ben McDaniel announcing its plans. The letter set Sept. 26 as the date for downsizing the Clovis office, with additional information about future moves to come later.
"This action is expected to be permanent," the letter stated. "Eventually the entire office facility in Clovis will close."
According to the news outlet, Yesway is establishing a new headquarters in Fort Worth, Texas, and will also close its offices in Des Moines and Abilene, Texas.
"We understand moving and closing several of our corporate offices will mean disruption to our teams and their lives," Yesway Chairman and CEO Thomas Trkla said in a statement. "We have not made these decisions lightly and we appreciate and value everyone's contributions."
Layoffs will take place in several phases over the year, he added.
"We are supporting those employees who will not make the move to our new Fort Worth headquarters, many of whom were offered the opportunity to do so and declined due to personal reasons, with career outplacement assistance to help them find their next opportunity," Trkla said.
Yesway acquired the Allsup's 304-store chain in late 2019, marking its largest deal in its history when the transaction closed in November, as Convenience Store News previously reported.
At the closing, the acquisition pushed Yesway's store count above 400 and increased its presence in Texas, New Mexico and Oklahoma. The company's portfolio currently consists of 407 stores located in Iowa, Texas, New Mexico, Oklahoma, Kansas, Missouri, Nebraska, South Dakota, and Wyoming.