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    Bankrupt Robbins Oil to Auction 23 Stores

    Bids due Sept. 30 for locations in the Carolinas.

    FOREST CITY, N.C. -- National Real Estate Clearinghouse (NRC) has been retained to coordinate the sale of 23 of bankrupt Robbins Oil Co.'s 50 convenience stores and gasoline stations in the Carolinas, the companies announced today. As part of Robbins' Chapter 11 reorganization, the stores will be sold through a sealed bid sale in a "buy one, some or all" format will final bids due Sept. 30.

    A list of stores is available online at www.nrcbid.com/308 or by calling 800-747-3342 ext. 308.

    The Forest City, N.C.-based oil company, which operates stores under the Excel convenience store brand and Chevron, Texaco and Exxon fuel labels, been a family-run business since the 1950's. The company, incorporated in 1961, started as a commission jobber for Sinclair Oil, which was later purchased by BP. Jim Robbins, CEO, contracted with Exxon in 1971 to become a full-line distributor.

    Most of the company growth occurred during the 1980's. By the late 1990's, Robbins Oil was selling Exxon, Chevron and the proprietary Excel brand. The company expanded into the convenience store business in 1997. The company can be seen throughout North and South Carolina at nearly 50 locations, including 10 convenience stores operated under the Excel Mart name.

    NRC has produced a color sales brochure and individual due diligence packages for each property, which contain store level information and bidding terms of sale. Individual bid packages for each store are also available at $35 each for a hard copy and $25 for a CD-ROM. NRC will also conduct a "How-To-Bid" seminar Sept. 17 in Spartanburg, S.C.

    Interested buyers should contact the NRC.

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