Dive Brief:
- Convenience retail investment firm Eagles Investments Group has filed for Chapter 11 bankruptcy protection, according to filings with the U.S. Bankruptcy Court for the Northern District of Alabama.
- Eagles’ c-store network includes 20 locations scattered across over a dozen cities in central and eastern Alabama, according to its website. Its locations operate under several banners, including Woodward Mart, Leeds Mart and Express Mart.
- It’s not clear if Eagles’ stores remain operational during this time or if the company intends to close or sell its locations. Neither an Eagles’ spokesperson nor the company’s attorney responded by press time when asked to share what led to the bankruptcy and what the future holds for its convenience stores and employees.
Dive Insight:
Founded in 2014, Eagles has stores scattered across Birmingham, Leeds, Vestavia, Vestavia Hills, Columbiana, Hoover, Bessemer, Homewood, Anniston, Lanett, Alabaster, Clanton and Montgomery, Alabama. As of the May 8 bankruptcy filing, its president and CEO is Ali Nasher, according to public documents.
According to Eagles’ bankruptcy court docket, the company and its attorney have until Sept. 8 to share both its disclosure statement as well as a plan for how it intends to proceed with its Chapter 11 reorganization.
Eagles’ bankruptcy isn’t the first sign of trouble the convenience retailer has faced in recent years. The retailer endured legal difficulties after a homicide occurred at its Express Mart in Birmingham in 2018, and faced public scrutiny from the city in 2024 after the same location saw more violence. At the time, the city of Birmingham attempted to sue Eagles, though a judge declined to deem the store as a public nuisance.
Although the exact reason behind what caused its bankruptcy is unclear, Eagles’ headwinds underscore the challenges that small convenience retailers — most with between 10 and 50 locations — are facing. Many operators of this size have struggled to maintain profitability in the current operating climate, leading them to sell their assets to larger competitors or close a significant number of locations.
