TravelCenters of America acquires Savoy
Aug 01, 2012 (Menafn - The Deming Headlight - McClatchy-Tribune Information Services via COMTEX) --TravelCenters of America has taken over operations of the Savoy Truck Stop after its owners were hit with 375,000 in penalties for alleged unlawful sales of securities.
The penalties, at 125,000 each, were against corporate officers of Savoy and Fuel 4 Less, Arthur Herlihy and Sean Curtis as well as operator Bruce Beckner, who is known in Demng as Bill Evans.
TravelCenters, which operates 241 locations in 41 states and in Canada, now has plans to remodel and rebrand the truck stop, which is located at 14150 Highway 418 SW.
"Short term, we're going to be planning to put in around 3 million dollars to upgrade it and convert it to our standards and our branding with a few improvements along the way," Tom Liutkus, corporate spokesman, said. "For example, we're going to be converting the restaurant to a Petro Iron Skillet. The Iron Skillet is a year-in, year-out voted best by professional truck drivers as well as the best eating on the highway."
The center currently employs 53 people and the new owners plan to hire more as upgrades are completed.
"We are pleased to acquire this location and open it as our newest Petro and glad for the opportunity to preserve existing jobs and create new jobs in Deming," Tom O'Brien, President and CEO of TravelCenters, operator of the TA and Petro Stopping Centers brands, said. "Petro Deming is about in the middle of a 170-mile gap on I-10 in New Mexico between our two next closest locations."
Planned upgrades include the installation of diesel exhaust fluid, which is an additional fuel some trucks require to reduce emmissions, Liutkus explained. Additionally, the owners plan to increase more operations to be open 24/7 and to include a truck maintenance and repair center.
He said if plans for the maintenance center come to fruition, there will be a need for technicians and other service providers.
Savoy Travel Center officially opened on May 20, 2010. The 20.500 square-foot business is accessible from Exit 68 on Interstate 10, headed west. "There's full anticipation as we convert we'll see business growth and then we can expect to fill needs as we move forward," he said of potential job creation.
Amenities at the station include: 150 truck parking spaces, 10 diesel lanes, fully-stocked 8,250 square-foot store, 135-set sit-down restaurant, repair facility, nine showers and 24/7 roadside service, among others. There is also a separate island with six pumps for motorists.
Matt Robinson can be reached at firstname.lastname@example.org
___ (c)2012 The Deming Headlight (Deming, N.M.) Visit The Deming Headlight
(Deming, N.M.) at www.demingheadlight.com Distributed by MCT Information
Copyright (C) 2012, The Deming Headlight, N.M.