My Store-Turtle River LLC, which operates as 71 Mart, filed for Chapter 11 bankruptcy on August 25. The Bemidji convenience store filed its case in the District of Minnesota in hopes of restructuring debt and keeping its doors open.
Highlights
- A convenience shop in Bemidji applied for Chapter 11 bankruptcy protection on Monday.
- My Store-Turtle River LLC, doing business as 71 Mart, filed the petition to restructure its debts.
- According to PacerMonitor, the store has until November 24 to file its Chapter 11 Small Business Subchapter V Plan.
My Store-Turtle River, LLC, Files for Chapter 11 Bankruptcy
The convenience store from Bemidji, Minnesota, filed for Chapter 11 bankruptcy protection on August 25. According to PacerMonitor, My Store-Turtle River, LLC, moved to the District of Minnesota to restructure its growing debts (Case No. 25-60512). The filing notes that the store carries perishable goods requiring ongoing care.
The filing reveals that the convenience store has both assets and liabilities between $0 and $50,000. The company reports owing between one and 49 creditors.
Operations to Continue During the Proceedings
The voluntary filing by My Store-Turtle River, LLC could allow the small convenience store to reorganize its debts while the business continues to operate. Kesha Tanabe of Vogel Law Firm is offering legal representation to the Minnesota store.
My Store-Turtle River, LLC, operates as 71 Mart at 4304 Alder St NE in Bemidji. Its principal assets are, however, located at 12471 71 Connection NE, Bemidji, MN 56601.
The convenience store must submit its Chapter 11 Small Business Subchapter V Plan by November 24. While My Store-Turtle River, LLC looks to stabilize its financial footing, this deadline would be critical for its future operations as well.
