Circle K Misses Debt Payment: Circle K...
From Times Staff and Wire Reports
Circle K Misses Debt Payment: Circle K Corp., the embattled convenience store group that has been struggling to surmount its huge debt, said it missed an interest payment due on $125 million of debt. It said it has 30 days to make the payment before default is declared. Phoenix-based Circle K, the nation’s second-largest operator of convenience stores, also said it would soon file a debt restructuring proposal involving standstill and other arrangements with its senior lenders and an exchange offer for its debt.
