Git-n-Go Parent Company Files for Bankruptcy
TULSA, Okla. - Hale-Halsell Co., the parent company of Git-n-Go Inc., filed for Chapter 11 reorganization Monday in U.S. Bankruptcy Court in Tulsa. The 101-year-old food distributor and retailer claimed estimated debts of more than $32 million and assets of about $49 million, according to The Associated Press.
The bankruptcy came after utilities threatened to cut service, attorney Scott Kirtley said. It's a reorganization, but liquidation is also possible, he said.
"Hale-Halsell will try its hardest to reorganize under court protection so that, if possible, all creditors can be repaid as much as possible," company treasurer Mike Owens said in a statement Tuesday.
Troubles began for Hale-Halsell in January when Lubbock, Texas-based United Supermarkets stopped buying groceries from the company. Hale-Halsell has subsequently laid off more than 300 of its warehouse workers, according to the AP.
Git-n-Go filed for Chapter 11 bankruptcy in late January. The convenience store chain has closed 38 of its 115 stores in Oklahoma and Missouri.
Another Hale-Halsell subsidiary, 4-Front Petroleum, filed a Chapter 7 bankruptcy liquidation in late February. It's the gasoline-buying arm for the convenience stores.
Also, Hale-Halsell unit Foodland Inc. has been selling its ten Super H grocery stores in Oklahoma.
Further, about 150 former Hale-Halsell employees have filed a federal lawsuit against the company claiming it did not follow legal procedure in letting go its workers, paychecks bounced and vacation time was not honored, according to the AP.
The bankruptcy came after utilities threatened to cut service, attorney Scott Kirtley said. It's a reorganization, but liquidation is also possible, he said.
"Hale-Halsell will try its hardest to reorganize under court protection so that, if possible, all creditors can be repaid as much as possible," company treasurer Mike Owens said in a statement Tuesday.
Troubles began for Hale-Halsell in January when Lubbock, Texas-based United Supermarkets stopped buying groceries from the company. Hale-Halsell has subsequently laid off more than 300 of its warehouse workers, according to the AP.
Git-n-Go filed for Chapter 11 bankruptcy in late January. The convenience store chain has closed 38 of its 115 stores in Oklahoma and Missouri.
Another Hale-Halsell subsidiary, 4-Front Petroleum, filed a Chapter 7 bankruptcy liquidation in late February. It's the gasoline-buying arm for the convenience stores.
Also, Hale-Halsell unit Foodland Inc. has been selling its ten Super H grocery stores in Oklahoma.
Further, about 150 former Hale-Halsell employees have filed a federal lawsuit against the company claiming it did not follow legal procedure in letting go its workers, paychecks bounced and vacation time was not honored, according to the AP.