Drivers of electric vehicles are spending less time and money at gas station stores, leading to declining in-store sales for gas retailers. This shift in consumer behavior contributed to LKM Convenience filing for Chapter 11 bankruptcy. The company operates under the Brothers Food Mart and Magnolia Express brands, offering convenience stores and gas stations. The bankruptcy filing revealed assets between $0-$100,000 and liabilities between $1 million to $10 million. Convenience stores selling gas are also facing challenges due to lower gas prices and flat gas sales. Industry experts noted that falling gas prices have hurt operators who receive a percentage of sales. This has led to changes in the c-store sales mix, with store sales not making up the difference. Inflation has also impacted inside sales, with little to no growth in merchandise sales. Gas stations with EV charging are not common, with industry insiders citing a lack of a business case for EV chargers at convenience stores. Nouria and Sheetz offer EV chargers at a portion of their locations, but overall charging sessions per site remain low. LKM Convenience, a convenience store operator under the Brothers Food Mart and Magnolia Express brands, filed for voluntary Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Louisiana on January 14, 2026. This reorganization under Chapter 11 comes after operational strain caused by Hurricane Ida in 2021, which led to the destruction of the company’s Bridge City Drive facility. Popular vodka brand Stoli Group USA has filed for Chapter 7 bankruptcy to liquidate, according to RK Consultants. This has resulted in legal disputes with sublessees and master landlords over rent liabilities. Small Business Plan due by July 13, 2026, with last day to file (if extended) on November 10, 2026. Disclosure statement & schedules due by January 28, 2026, including required filings such as Balance Sheet & Cash Flow Statement. Source: Bankruptcy Observer.
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