Kum & Go to sell off 12 Iowa Stores
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The Associated Press
Iowa-based convenience store chain Kum & Go L.C. plans to auction off 21 of its stores, including 12 in Iowa, the company said.
Kum & Go announced in August 2007 plans to sell off smaller stores and stores outside its core markets to focus on increasing larger format stores.
“It is our desire to consolidate and strengthen our asset base and offer a consistent brand to our customers in Kum & Go’s core markets,” said Kyle J. Krause, president and CEO, in a news release issued last week.
The company has retained The Energy Exchange of Chicago to coordinate a sealed bid auction of the stores.
Besides those in Iowa, Kum & Go plans to sell three stores in South Dakota, two in North Dakota, and one each in Missouri, Montana, Nebraska and Wyoming.
The sale of the stores coincides with the anticipated record number of new store openings.
In 2008, Kum & Go has opened seven stores in Oklahoma, South Dakota, Colorado and Nebraska. It plans to build 27 other stores this year in core markets, the company said in a news release.
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