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Business Services Industry
Supplier of home heating oil in New York threatens bankruptcy.
Knight Ridder/Tribune Business News, October, 2004
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Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Oct. 19--The company that owns the largest supplier of home heating oil on Long Island and in New York City warned yesterday that it may declare bankruptcy because its Petro subsidiary hasn't been able to pass on soaring fuel oil costs to its customers.
Star Gas Partners LP said that another reason for Petro's financial difficulties was the unusually high number of customer defections. Petro over the past two decades has acquired hundreds of fuel oil dealers in this region and elsewhere as a way to increase its ...
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