By Brandon Zimerman
Crescent Oil Company Inc., a fuel supplier for six Midwest states, has filed for bankruptcy, citing volatile fuel prices and expenses tied to opening new convenience stores.
The Independence-based firm filed for Chapter 11 protection from creditors in the U.S. Bankruptcy Court in Kansas City, Kan., on Saturday. A spokesman for the company did not immediately return a phone call seeking comment Monday.
In court documents, the company said it and its subsidiaries had a total of $85.3 million in assets and $88.8 million in liabilities at the time of its bankruptcy filing.
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