A family-owned Iowa-based company with locations locally has donated thousands of dollars worth of merchandise following the termination of several of its leases.
The Brew ceased operations at 15 convenience stores in eastern Iowa last month, which led the company to donate over 170-thousand dollars in merchandise to several food banks in that part of the state. According to a press release, The Brew signed an operational lease to manage those locations, but did not own or acquire those convenience store properties at any time.
Shortly after The Brew began managing the stores in eastern Iowa, the property owner Mountain Express Oil filed for federal bankruptcy protection in Texas. Those locations were then purchased by an out-of-state investment group, which was not affiliated with The Brew or the previous property owner. In late August, the bankruptcy court ordered the termination of Mountain Express Oil’s master lease with the out-of-state owners, which included its lease with Brew. Renegotiation efforts proved to be unsuccessful.
Brew spokesperson Joe Kelly says the company is disappointed that they could not come to an arrangement with the new property owners and were forced to vacate those properties. Kelly applauds Brew owner Inder Singh for donating inventory that remained in those stores including food and personal care items to food banks and nonprofits which will help support Iowans in need.
The Brew will continue to serve as a convenience destination at its 28 locations throughout Iowa, and expansion plans are underway.
