Gas City Auctions Off Stations for $135 Million to Pay Back Debts

The Frankfort-based company sells its 50 stations to 14 buyers as part of Chapter 11 filing. Its future as a business is uncertain.

Gas City's 50 service stations and truck stops were auctioned off for $135 million Monday as part of the company's bankruptcy protection filing, leaving the future of the Frankfort-based business uncertain.

14 different buyers purchased the stations, and multiple bids were placed on most of the properties, said Daniel Zazove, the Chicago attorney representing Gas City. In the Chicago area, the stations include locations in Frankfort, Mokena, New Lenox, Shorewood, Oswego, Darien and Joliet. Stations elsewhere in the state, as well as in Indiana, Arizona and Florida, also were auctioned off.

in U.S. Bankruptcy Court in Chicago on Oct. 26. Court documents list company assets of between $50 and $100 million and debts of $100 to $500 million.

The sale of these stations will go toward paying the money Gas City owes, Zazove said, but it isn't enough to cover the entire debt. 

What this sale means for Gas City as a company is undetermined.

"Well, when the sale closes they won’t have anymore gas stations," Zazove said. "We’ll have to decide what we do when we conclude the sales. ... It will be a while before the future of Gas City is decided."

A Gas City spokeswoman who refused to give her name would not comment on the auction or what the effect the sale would have on the company. 

The auction will be finalized in U.S. Bankruptcy Court in Chicago on April 13. Zazove said it could take 45 days or more to close the individual sales of the properties.

"Most of the people there seemed very pleased with the results of the auction," he said.

mary April 17, 2011 at 06:26 PM
So why not just be honest with us (your employees) and tell us whats going on??? we all read the paper & view the internet so why keep telling us that there is a continuance ??? Cmon lets be humane about this we didnt put you in this situation apparently we are the ones who are going to suffer for your mistakes?? is that fair or respectable??? NO IT IS NOT !!! we know whos taking over and here we have to wonder if we are going to have jobs or take pay cuts, at least give us the respect we deserve and come forth and speak the truth !!
wayho May 01, 2011 at 07:27 AM
It was offical this friday the takeover of all gas city entities where taken over from slick willy and to follow suit itiwill be his heinielicker trucking co also.And also reporation is continuing forward for sixty X DRIVERS of the monies owed to them thru N.L.R.B it appears to the karma trains pulling in to the station! ALL ABOARD MCENERY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Black Sheep May 01, 2011 at 08:30 AM
Unfortunately there are hundreds of innocent employees on his Karma train that have families to take care of! Thank you for wishing your heartless wish..now my husband willl be unemployed! Be careful...I believe that Karma train is coming your way...
wess ????? May 01, 2011 at 03:40 PM
Wayho The Teamster local 705 after the screwing Bill McEnery, AD Conner/ Gas City gave your drivers here some more info you might not be aware of! Did you know the banks appointed a receiver to run Green Garden Country Club and guess who he appointed to manage it now? Bill McEnery’s and his family that’s who! Many people are not aware of that fact because the Unions listed below are holding there annual golf outing at Green Garden again in 2011! WHY? I thought Unions stick together! Local 17, Ironworkers, ComEd, Panduit, Local 2 Elevator’s, CTA Drivers, CAWGC, Piperfitters, CNIC, Central Steel, Berkot’s Grocery Store, Sickle Cell, Deering Area Police & Fire Fighters all Union guys, Builder Tee, Osco, Will Count Democrats after all that the union have done for them!, The following Golf Leagues, Tuesday’s - Mikes League all Union Guys, Wednesday’s – ComEd Golf League, Wednesday - Frankfort Park District we support you why not us, Thursday’s - Moose Golf Leagues, Thursday’s – Mokena Lions, Club. Let’s not forget the Monthly Pipefitter Breakfast held the Third Tuesday of every month at 9 AM. If you are a union member and you support this golf course it’s the same as crossing a picket line! AD Conner Local 705 Teamsters needs your support call and cancel these outing today! Get on the phone and spread the word !!!!
Brad Stewart May 01, 2011 at 05:45 PM
You mean union bosses stick together ! There is no representation anymore ! Was there a picket line set up ? No I didn't think so.
quantumrift May 04, 2011 at 04:19 PM
Well, out here in Sierra Vista, AZ, when Gas City came to town a decade or so ago, it helped drive down the chokehold other stations (Circle K, Chevron, Texaco, etc) all had on our town. The past few months, however, it was plain to see Gas City was in trouble as their price for regular was always just a couple cents below Chevron and Shell's price (usually the highest). I see that we will probably get a Valero station now, and they always seem to have consistent low prices. I guess my Gas City rewards card is now doo-doo....and the station (truck stop) up at the 302 exit in Benson AZ on I-10 was ALWAYS high priced, and the Shell station they also owned across the street sold regular for astronomical prices. They heavily invested in a Cracker Barrel clone, "Gracie's Station" there at the 302 exit as well (it had pretty good food but never really took off) and it went under several months ago (as part of this). Word out now is that Cracker Barrel actually will be putting in a restaurant there as we need on on I-10 east of Tucson.....
Mike Hornfield May 04, 2011 at 09:20 PM
People seriously need to know what they are talking about before they go making up stuff on here. It sickens me how pathetic most of you are that you will go out of you way to bash people like this! Don't you have anything better to do with your life?
Mike Hornfield May 05, 2011 at 01:02 AM
I completely agree with you. these people are ridiculous with their made up names and what not. If these people had a problem with how a store was being run or whatever they should have done something about it, not to speak up now that the company is done. Majority of these people who have posted on here make me sick.
mary May 05, 2011 at 09:36 PM
I'm happy to say that on a store level all employees will have jobs with the new owners.(at least with the Speedway stores). They will retain everyone at their current rate of pay and benefits,incentives are much better. Thanks Speedway.
Dan May 06, 2011 at 04:10 AM
So they shutting down for the 2 weeks to "swap" everything or are they gonna run still during the swap? This is going to happen in 2 to 3 weeks from now.
mary May 06, 2011 at 06:56 PM
As far as i know business as usual. Maybe 1-1 1/2 days closed.
Dan May 09, 2011 at 01:58 AM
All of them except the one in New Lenox at Cedar Rd. I think, Some will be changing over this week into next week. The one in New Lenox will stay as a gas city till the end of the month. They will be shutting off all Eelectronic data services soon (atm,credit cards, points, etc). I used the last of my points today. The one at Laraway and Briggs is already a Shell. It's a gohst town in thier.
wess ????? May 14, 2011 at 12:46 AM
Bill McEnery President and his daughter Billy Vice President of Gas City had to stick it to the public one more time before leaving Gas City for good! For failing to give the public enough notice to redeem there gas rewards points before turning over those locations to there new owners. Remember everyone these individuals now operate the local Creamery's fast food locations so do not support there efforts.
Kathy May 14, 2011 at 04:26 PM
The Gas City in Willow Springs shut down yesterday afternoon/evening? Went to get a DD Coffee and they had the lot roped off, Pump nozzles covered with plastic bags & pricing down off the sign. Does anyone know if this station will reopen with new owners? It was also the only place for miles that we could buy gas for the race car. I was not a fan of their higher prices but the store was well kept and a regular stop for coffee. I'm sorry for all the employees and other suppliers that these closing have affected. Nothing but nice folks working at this location.
Kathy May 16, 2011 at 01:07 PM
Went by here Saturday afternoon and Speedway has it up and running. I hope that they kept the GC employees. Spoke to the big cheeses inside and they said they will continue to carry Rockett Brand Racing Fuel. I don't know if they will continue to carry the E85 though. Those pump nozzles are still covered and no pricing on the marquee.
Bob May 16, 2011 at 08:00 PM
As an ex-employee of theirs, I will tell you that they were a horrible company with horrible policies. They would have employees drive to other stations and fax in the dollar amount they charged, and then get their prices (2 or more cents higher minimum) in return. Once I had a vehicle from Ohio who stopped at the Clark station (Now Gas Busters, but owned by Gas City) when the price was $3.41. At Shell and BP right down the street (191st & 96th), it was $2.87. I went out there and let them know that they shouldn't stop there -- an employee doing that. It's a shame, they overcharged on merchandise, treated employees like workhorses, and were very unsanitary. The Clark station had dead beetles in the candy, and crickets in the cabinets, and dead something-or-another's inside of the beef jerky wrappers. I say good riddiance. It was a very pleasing feeling to see a "Speedway" tarp over the predatory, price-fixing, unhealthy, ungrateful "Gas City" sign that was once there. I bet we'll see prices taper off at this point.
Go4it May 18, 2011 at 07:53 AM
I hope they still keep weenie wednesday. As for all the gripes, y'all should've of planned your education for a real career instead of working at a gas station. Blame yourselves.
mary May 18, 2011 at 11:52 AM
Just to let you know I'm college educated and I do look at this as a career in business!
Kathy May 18, 2011 at 05:03 PM
That was uncalled for and extremely rude Go4it and no I am not an employee just some one who respects hardworking people. Shame on you
Mike Hornfield May 18, 2011 at 08:24 PM
Go4it should take part in weenie wednesday and stick it somewhere else. You are a rude person telling people what kind of jobs they should have. 60% of graduates can't even get a job in their field out of college this year. Some people may not want to work at a gas station but you have to do what you have to do to make money and others want to work there. you have no right telling people what to do for their career.
Uneducated May 19, 2011 at 12:21 AM
HAHAHA go4it let me tell you, I was a manager for Gas City, and continue to be one for Speedway. I make more money in one year than most of my friends that did graduate college. The only difference besides me making more money than them is that I might have to bust my butt a little harder, and I do not have thousands and thousands of dollars in student loans that I am struggling to pay off! Not to bad for an uneducated person if I do say so! PS just so you know, just cause I work at a gas station does not mean I am uneducated or stupid, I graduated in the top 25 percent at Lincoln Way, just chose to go a different route, college is not for everyone!
JOANNA May 19, 2011 at 02:27 PM
Hmmm... No college education... making as much if not more than peers with a degree... sounds like a great place to work! I guess Bill McEnery isn't so bad because anyone willing to work hard can make a living thanks to him! Where else can you find that anymore?
krista June 06, 2011 at 01:43 PM
if you guys think steel city is the last to close, you better hold on because its gonna be a bumpy ride!
Roberta June 09, 2011 at 01:36 PM
You go tell them I was also a manger for gas city ,people think they can talk down to you because they think we are stupid til i put them in there place and ask them how much they make a year , i loved working for gas city i enjoy working hard for my money i know i have earned it then.
rita stoll June 21, 2011 at 03:56 PM
I have spent the last hour reading through all the comments about Gas City. I signed off. Couldn't get it outa my mind, signed back on and I need to express my standing on this issue. Obviously some of these postings were months old. Yet again, obviously, the closings of Gas City's has triggered deep emotions, questioned loyalty, caused judgement upon others, created fabrications of truth and lies and, seems to me, has brought out a lot of ugliness within yourself. ( yourself referring to anyone who has posted) Without tearing into the layers to which has been the cause of the G.C. closings, because there are a lot of layers to why G.C. has closed, I am rather gonna spear head it from the top to which I know to be the absolute best way to look at it. The spear heading from the top begins and ends with YOU. This is your opportunity to better examine yourself. Familiar with throwing of a stone to someone who has done wrong? Well, throw the first stone ONLY if YOU can say I have never cheated, lied, fabricated, hated, stolen, mocked, ridiculed, defamed, used or judged. Yes, thought so. Should make you aware and realize we all should not have much negative to say about anyone. This is an opportunity for all of us to be a better husband, wife, brother, sister, daughter, son, friend, co-worker and boss. This is an opportuntiy to examine yourself and strive to speak truth, be honest, respectful, curtious, positive, knowledgable before judging, wise before spooing hate.
rita stoll June 21, 2011 at 04:14 PM
Don't worry about what your neighbor has as much as think about how and what is the best way to provide for yourself and for your family? When change occurs, how will you roll through the change? I am saddened with the closing of G.C. I lost a client. You and many that you know lost a job. It is not easy to find jobs, but it is possible. Finally, I have done and will continue to do, from when I first heard about the struggles that G.C. was enduring...pray. Prayer is a blanket of comfort. At first my prayers were for me. Now they are for all of you. I do not apologize for my belief in prayer nor do I apologize for my faith in Christ, as a Christian, this is the best advice for all of you. Through this, you find within yourself comfort and a lesser "desire" to add fire to an already burning fire. My five years or so with G.C. was pleasant. I enjoyed this client. I will miss this client. My concern is with YOU. Mock me, bash me, laugh at me? I hope not. I also do not apologize for errors...typo & such. When you write from the heart the message is what is in question. ~ Rita Lenzi-Stoll ~
Nobody June 22, 2011 at 02:04 PM
Who cares about Gas City. Who used to sell cheap gas early years and now one of the most expensive gas stations...
s June 20, 2012 at 12:54 PM
I also worked for Gas city, it was an ok place to work. Except for one thing the DM'S , they liked to take the Managers Bonuses.. I also was the only Manager in my District to work 3 shifts in a row on 9-11, did I get anything extra ? NOOOOO..
s June 20, 2012 at 01:02 PM
you are wrong!! every gas station, if it's shell, BP speedway, gas city gets there gas from the same place.. it's only the additives that make it different.. like in Diesel gas they put color into it so they know where it goes...
s June 20, 2012 at 01:40 PM
I use to be the manager there during 9-11, and yes it was the only gas station around.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something