Cumberland Farms gas stations

Long Island gas station owner sued by Cumberland Farms
September 23, 2015 – 12:27 pm

A Gulf station at 1395 Veterans Hwy. inMega Long Island gas station owner Stephen Keshtgar, who is seeking bankruptcy court protection from creditors for most of his businesses, is being sued by his biggest supplier and landlord, Cumberland Farms Inc., for more than $2.5 million in rent, fuel and damages.

The suit, filed Feb. 5 in U.S. District Court in Central Islip, covers 18 of Keshtgar's stations and names Keshtgar, his wife, Shoreh, and a number of their corporations as defendants.

His attorney, Michael Macco of the Melville-based bankruptcy firm Macco & Stern LLP, said Keshtgar had about 25 stations, most on Long Island, before first running into financial problems more than two years ago.

Under franchise agreements with Cumberland, which is based in Framingham, Massachusetts, the 18 stations were leased by Keshtgar from a Cumberland subsidiary, Gulf Oil Limited Partnership, and supplied by it with fuel. Cumberland operates convenience stores and Gulf and Mobil stations throughout the Northeast.

The suit claims Cumberland is owed $2, 536, 744, plus interest.

Keshtgar, who raised the hackles of drivers and local politicians two years ago when he charged as much as $2 per gallon extra for credit purchases at some of his stations, filed for Chapter 11 bankruptcy court protection in December and January for a total of 22 of his locations.

Macco and court papers said Keshtgar, of Brightwaters, first encountered financial problems in 2012 when he tried to convert the financing for three gas stations he had just purchased - from a revolving line of credit to permanent financing, a change that would have allowed him to borrow more on the revolving line. Macco said the bank refused.

Late in 2012, a lack of gasoline after superstorm Sandy forced the closure of some of his gas stations for as much as seven weeks, causing a significant drop in revenue. "That was the beginning of the end for us, " Macco said.

Macco said Thursday that seven of Keshtgar's stations still are operating and that he and Keshtgar have devised a plan with the bankruptcy court to sell 10 of the Cumberland Farms franchises, on Feb. 24. He said the proceeds are expected to be more than enough to pay what's owed to Cumberland.

Source: www.newsday.com
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Popular Q&A
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Does the gas station cumberland farms in naugatuck ct sell salsa?

Most 7/11 gas stations do carry salsa. However, your best bet is to go to the grocery store as its usually cheaper.

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