Thursday September 13, 2012

Retailer PCF Saleco Faces Involuntary Bankruptcy

Lone Tree, CO — C-store retailer PCF Saleco LLC has had three industry suppliers file an involuntary petition of bankruptcy, claiming the company owes them more than $1.65 million combined.

There were reports of 24 ConocoPhillips/Circle K-branded stores near Albuquerque posting “cash-only” signs on their gas pumps and store windows, and many stores running out of gasoline. Also, many Phillips 66 stores in Kansas City, owned by PCF Saleco, temporarily closed on account of financial difficulties, according to the company’s financial and marketing spokesperson Alissa Hicks. Only some of the stores have reopened.

Core-Mark International Inc. of south San Francisco, and D&H Pump Service Inc. and ACM Industries Inc., both of Albuquerque, have filed documents with the District of Colorado Bankruptcy Court following apparent monetary struggles at several PCF Saleco-owned locations, according to reports. The petition was delivered to the company on September 6.