Mountain Express Oil files for bankruptcy protection

The company aims to achieve a comprehensive restructuring while its service stations and convenience stores will continue operations under normal circumstances.

Mountain Express Oil Co. has filed for voluntary bankruptcy protection as it aims to restructure its fuel distribution and convenience store assets.

The company appealed to Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Mountain Express’ retail network will continue normal operations according to the firm’s petition.

Mountain seeks to use cash collateral to fund and protect its operations if the court rules in its favor alongside normalizing operating cash flows to reach “value-maximizing”.

“Through this process, Mountain Express will continue to transform the business for the future while bolstering our financial position. I am confident in the strength of our business and our team and look forward to achieving a comprehensive resolution that will best position Mountain Express for long-term success,” said Turjo Wadud, CEO and Co-Owner of Mountain Express Oil.

Mountain Express was founded in 2000 and currently operates a network consisting of 828 fueling sites and 27 travel centers throughout 27 states. Its associations include partnerships with major firms such as ExxonMobil, bp, Shell, Chevron, Texaco and Sunoco.