Minimum Bids Set for Uni-Marts Assets


Matrix Capital Markets Group Inc., Baltimore, has announced that minimum bids are now established in the Uni-Marts Chapter 11 Bankruptcy Case.


The total of the minimum bids for all 207 Uni-Marts’ assets stands at $15,708,000.


Each of Uni-Marts’ 114 company-operated stores is available for sale on an individual basis and the minimum bids range from $2,500 to $342,000 for leased stores and $50,000 to $1,695,000 for stores where Uni-Marts owns the real estate.


The total minimum bid of all the company-operated assets is $13,565,000. These assets generated $7.2 million in EBITDA (earnings before interest, taxes, depreciation and amortization) on fuels volume of 70.6 million gallons and $87.6 million in merchandise sales for the most recent 52-week period.


In addition, Uni-Marts’ 93 distribution assets also are for sale with a collective minimum bid amount of $2,143,000. Assets where Uni-Marts controls the real estate and sub-leases the store to a dealer are available for sale on an individual basis, while assets where Uni-Marts only has a supply relationship with the dealer are available for sale in groups based on geography. These distribution assets accounted for $1.9 million in EBITDA on fuels volume of 53.2 million gallons for the most recent 52-week period.


“Through the elimination of unprofitable assets and the successful reduction of prime operating leasehold rents, Uni-Marts is a different business than it was when it filed for bankruptcy,” said Tom Kelso, managing director of Matrix. He added, “the sale of the company-operated sites are an excellent opportunity for existing operators or entrepreneurs looking to enter the industry, and the lessee-dealer and dealer operations offer a substantial amount of fuels volume and rental income at very attractive values.”


Prospective buyers are encouraged to visit the Matrix Web site, dedicated solely to the Uni-Marts sale: for a complete list of the assets available and their respective minimum bids.




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