Uni-Marts Filing for Bankruptcy

State College-based Uni-Marts has filed for Chapter 11 bankruptcy and says it intends to seek a buyer. Officials with the convenience store and gas station chain say cash reserves have been depleted by rising fuel prices and other costs. The bankruptcy filings say the company owes more than $28.5 million to its top 30 creditors. Attorney Tyler Brown says the company will identify and close 45 underperforming stores and continue to operate the rest while it reorganizes under bankruptcy protection. There's no word yet on whether any stores in this area will be closing.

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