Crescent Oil cuts lose 57 outlets, cites low profitability

摘要

Bankrupt Midwest fuel marketer Crescent Oil has cut loose 57 retail sites in a downsizing move, slightly more than the 40 the Kansas chain was expected to unload. The move, which is based on the volume and profitability of each site, will trim Crescent's fuel distribution network to less than 300.rnCrescent's acting CEO Bryan Chance said in August that the company and its new owner, Florida Sunshine Energy, were evaluating the cure value, supply agreement and lease rent for each individual site.rnOf the total number of sites cut loose, the bulk is in Oklahoma and Kansas, sources said. A handful of sites are located in Arkansas and Texas.