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Wednesday, August 22, 2007

Mississippi Company Hires Chicago Firm to Handle Sale of Stores

Source: Associated Press
MERIDIAN, Miss. (AP) - A Mississippi company has hired a Chicago firm to handle the sale of its 45 convenience stores.

Deweese Enterprises Incorporated has hired NRC Realty of Chicago. The convenience stores are in Mississippi and Alabama. The sale also includes the company's gasoline distribution company and an ice company.

Deweese has more than 400 employees and had sales of $173 million in 2006. Company president Doug Deweese says fluctuation in fuel prices and higher fees from credit cards were among the reasons he's decided to sell. He says he hopes to complete the sale in the next four months.

He says the terror attacks of September Eleventh, 2001, changed the oil industry and company profits have slipped as the oil producers consolidated. (On the Net SuperStop, http://www.superstop.net )