The Store, with 25 convenience-store locations in Wisconsin and Michigan, will cease operations at the end of July under Team Schierl Co., the company has announced. It will end operations of the brand on July 31 and will work with the chain’s next operator to transition employees, the company said.
In May 2022, Stevens Point, Wisconsin-based Team Schierl said it would continue operating its stores after selling the buildings and properties to an unnamed real estate investment trust (REIT). Team Schierl continued to own the equipment, fixtures and inventory, and the transaction did not affect any store employees.
In June 2022, Team Schierl sold The Store brand to Lakewood Ranch, Florida-based West Hill Ranch Group, a division of Mountain Express Oil, which took over ownership and management of the brand, Team Schierl posted on Facebook.
Mountain Express, with a network of 166 company-owned convenience stores and 300 dealer-owned customers, filed for Chapter 11 bankruptcy protection in March 2023. After Alpharetta, Georgia-based Mountain Express missed payments to gasoline suppliers, which forced some operators to close their fuel centers, travel centers and convenience stores, Judge David R. Jones, in U.S. Bankruptcy Court in Texas, terminated all of Mountain Express Co.’s real estate leases. In a series of court orders, the judge converted the filing from Chapter 11 to Chapter 7 bankruptcy, directing Mountain Express to liquidate its assets.
In September 2023, Schierl Sales Corp. bought back certain intellectual property relating to 25 The Store convenience locations in Wisconsin and Michigan from Mountain Express as relief in Mountain Express Oil’s Chapter 7 bankruptcy. The transaction did not include the stores themselves.
“The conclusion of the bankruptcy proceedings over the last seven months has transitioned the ownership of the land and buildings to a property investment company. As of May 7, 2024, The Store has been notified that the property investment company will not be extending its current operational agreement,” Team Schierl said in a statement provided to CSP. “As it currently stands, The Store will be forced to end its convenience-store operations as of July 31, 2024; however, The Store is working to forge an agreement with the operator to establish a transition for all associates to be hired in their current positions. The Store appreciates all the hard work of so many dedicated associates and the communities that have embraced and supported its family-owned business for almost 50 years.”
The company added, “Team Schierl Co.’s additional retail businesses, including Schierl Tire & Auto Services and Subway restaurants, are not affected by this transaction and will continue to operate without interruption.”
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.