Dive Brief:
- Convenience retail real estate owner 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 owns land connected to 20 locations scattered across over a dozen cities in central and eastern Alabama, according to the company’s bankruptcy attorney. The locations operate under several banners, including Woodward Mart, Leeds Mart and Express Mart.
- Eagles’ attorney said in an email that that the convenience stores are not connected to the bankruptcy and are not impacted by the case.
Dive Insight:
Founded in 2014, Eagles owns the land for 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.
In his email, Eagles’ attorney, Robert Keller, clarified that the 20 c-stores are independently operated by different corporate entities, and they continue to operate and have no intention of filing any bankruptcy, as Eagles is the sole debtor in its case.
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 retail real estate owner has faced in recent years. A homicide occurred at the 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.
Correction: A previous version of this story misstated facts about the nature in which Eagles Investments Group is involved with c-stores. The company manages, operates and owns the land and buildings connected with 20 convenience stores in Alabama.
