Crescent Oil Company Inc., a fuel supplier for at least six Midwest states, has filed for bankruptcy.
The Independence, Kan.-based firm filed for Chapter 11 protection from creditors Saturday.
Crescent’s bankruptcy filing says the company has between $50 million and $100 million in estimated assets and a like amount of estimated liabilities.
Its largest unsecured creditors included fuel companies Shell/Equilon and Conoco-Phillips and the Kansas Department of Revenue’s Motor Fuel Tax Section.
The bankruptcy comes after several retailers in the Midwest last week reported not receiving regularly scheduled deliveries of fuel. Gas outlets in Joplin, Neosho and Asbury in Missouri, and Pittsburg, Frontenac and Weir in Kansas were among those affected by absent deliveries from Crescent Oil.
Crescent distributes fuel to more than 340 locations in Kansas, Oklahoma, Arkansas, Missouri, Illinois and Louisiana. The company is a wholesale supplier of Conoco-Phillips, Shell, Valero and British Petroleum gasoline.
Local News
<img src=" http://www.joplinglobeonline.com/images/zope/business.gif " Border=0> 11:42 a.m. Oil company that left area stations dry files for bankruptcy
- Local News
-
-
City wants to buy weather radios for those without
Phil Jones had been working on a construction project outside his house all day on May 22 and was unaware that a tornado watch had been issued. Once he was inside, though, his weather radio went off, and he learned that a warning had been issued.
-
Architects present preliminary JHS plans at community meeting
Reaction appeared mostly supportive Thursday night among the roughly 50 people who attended a community meeting at which architects presented their preliminary site plans for the future combined Joplin High School and Franklin Technology Center.
-
Confessed shooter testifies against co-defendants in Pittsburg murder case
Rickey Smith testified Thursday that as he came in the back door of Ryan Bailey’s home in Pittsburg with a 9 mm pistol in his hand, Bailey looked up from the couch in his living room.
-
School district’s proposed street-closing plan questioned
Plans to close some streets near the proposed Joplin High School drew questions, including a challenge from a former Joplin mayor, during a public hearing this week.
-
Neosho council approves new golf cart contract
The purchase of golf carts was back on the agenda this week for the Neosho City Council. City Attorney Steve Hays said there were errors in the financing terms that were part of a bid approved last month for the purchase of 55 gas-powered carts from E-Z-Go for $144,195, so the purchase of a new fleet was rebid.
-
Mike Pound: Spirit of competition evident during double-overtime game
When I played basketball in high school, I played in several very close games.
Now, some people who may have known me in high school are probably laughing right now and saying, “What Mike meant to say is that when he was in high school, he came very close to playing in some games.” -
Mo. optometrist filed $40 million refund claim
A southwest Missouri optometrist who filed a tax return claiming a $40 million refund has been sentenced to four years and three months in federal prison.
-
Okla. receives waiver from No Child Left Behind
Oklahoma’s top education official reacted with glee Thursday with the announcement that the state is one of 10 states being granted a waiver from the federal No Child Left Behind law that requires students be proficient in reading and math by 2014 — but focused on getting students to “just pass the tests.”
-
Kan. House approves bipartisan redistricting bill
Power in the Kansas House is likely to shift next year from rural parts of the state to the Kansas City area after members overwhelmingly approved a bipartisan bill Thursday for redrawing their districts.
-
Fugitive in 1993 British heist arrested in Ozark
A man suspected of stealing about $1.5 million from a security van in England in 1993 has been arrested in southwest Missouri.
- More Local News Headlines
-
Obama Gives Education Waivers to 10 States
Giffords Aide to Run for Her Seat
LA School in Sex Abuse Scandal Reopens
Winter Slamming North Asia, Parts of Europe
Syrian Forces Renew Bombardment of Homs
States, Banks Reach Foreclosure-abuse Settlement
Raw Video: Italy's Mount Etna Bursts Into Life
Greeks March; Angry Despite Debt Deal
Raw Video: U.S. Pullout Celebration
Raw Video: Annual Empire State Building Run-Up
Man Killed in Courthouse Shootout
Air Force Airlines: Leaders Get Polished Service
Ga Girl Fights Off Kidnapper at Walmart
Nevada Highway Patrol, City Settle Beating Case
Homs Bombardment Continues, Global Outcry Grows
Raw Video: Dog Rescued From Icy Colo. Water
Skip the Coffee Cup and Inhale Your Caffeine Fix
