May 20, 1990 |
Southland Corp. says one of the best reasons to consider becoming a 7-Eleven franchisee is that it is a relatively inexpensive way of getting into business for yourself. Indeed, a 7-Eleven store is much less expensive than most other major franchises. But it still costs plenty. If you buy one of the small number of company-owned stores in the Los Angeles area, the franchise fee and up-front inventory costs probably will amount to $75,000.
April 14, 1999 |
Del Taco Inc., the second-largest Mexican American fast-food chain in the nation, has filed suit seeking to force Southland Corp. to stop selling a new El Taco food item at its 7-Eleven stores. In a suit filed in U.S. District Court in Los Angeles, Laguna Beach-based Del Taco says Dallas-based Southland is violating its Del Taco trademark, confusing customers and unfairly competing by marketing the new taco, introduced March 4. Del Taco was joined in the complaint by Boca Raton, Fla.
CALIFORNIA | LOCAL
March 14, 1992 |
A 7-Eleven market in Van Nuys, cited four times for selling alcohol to minors and intoxicated customers, must curtail its hours of operation, stop selling single cans of beer and abide by 19 other conditions, Los Angeles zoning officials ruled Friday. At a zoning hearing last month, police, city officials and community groups testified that the store at 15317 Vanowen St. had become a haven for criminals, and asked that its liquor sales permit be revoked.
June 15, 1990 |
The struggling parent of the 7-Eleven retail chain and the Japanese investors seeking to buy control of the company announced a new bond-swap proposal Thursday in an effort to keep the deal from collapsing. Southland Corp., the nation's biggest convenience-store firm, also disclosed that it will not make interest payments due today on some of its $1.8 billion in junk bonds. Analysts were encouraged by the bond-swap offer.
April 3, 1990 |
Southland Corp., the troubled parent of the 7-Eleven convenience store chain, said Monday that it could be forced to file for bankruptcy this year if it fails to restructure its massive debt. The Dallas-based company also reported a fourth-quarter loss of $1.01 billion after taking a $947-million writeoff that reflected the sale of its 50% interest in Citgo Petroleum Corp. in January.
January 24, 1991 |
Southland Corp., parent of 7-Eleven convenience stores, said Wednesday that bondholders withdrew all objections to the company's latest overhaul plan, clearing the way for a vote on the proposal. For the second time in four months, Southland will ask its shareholders to approve a reorganization designed to bring the company out of bankruptcy by permitting Japanese investors to buy a controlling interest for $430 million. U.S.
May 8, 1987 |
Several black owners of 7-Eleven stores in the Los Angeles area accused Southland Corp. on Thursday of policies that discriminate against minority owners of the convenience stores. At a press conference, the Los Angeles NAACP said it was investigating claims that franchise owners have been required unfairly to come up with "thousands of dollars in a matter of days" to meet financing requirements.
April 8, 1990 |
Columbia Savings said it was insolvent. Southland Corp., owner of 7-Eleven stores, said bankruptcy may lie ahead. First Executive took a bruising $836-million loss. The news was heavy from the world of high-yield junk bonds last week, and most of it was bad. Companies with junk in their investment portfolios revealed that new and gaping wounds had been inflicted by the junk market's 9-month-old collapse.
November 17, 1991 |
They tried police patrols, curfews on arcade games and bright lights. Now officials at Southland Corp. are hoping that Thousand Oaks youths who hear the violin strains of a Brandenburg concerto at their local 7-Eleven store will take their Slurpees and run. For two weeks now, seven days a week, 24 hours a day, Southland has been dousing the store with Muzak as a sort of defense system against hordes of loitering youths, hoping to drive them away.
August 8, 1990 |
In a victory for large franchise operations, a New York judge has ruled that franchisers can negotiate deals that vary from their offering documents. The ruling came in a lawsuit filed by Southland Corp., owner of the 7-Eleven convenience store chain, against New York Atty. Gen. Robert Abrams.