Laserfiche WebLink
Petroleum Marketers <br /> February 11, 1992 <br /> Dear Customer: <br /> Over the past few months, we have had a difficult time with <br /> our cash flow. Whether you are a small business or one of <br /> our retail. customers, you are probably experiencing the same <br /> tough economy that we are. <br /> We have been working with our major suppliers and creditors <br /> to honor the commitments we have made and we were doing quite <br /> well up until last week. At that time, the State Board of <br /> Equalization decided to stop working with us on a payment <br /> schedule that we had maintained faithfully since March of <br /> 1.991 . Neither JEMCO nor our other major creditors were able <br /> to dissuade the Board from their arbitrary position and, as a <br /> result, we have had to seek the protection of the federal <br /> court by filing under Chapter 11 of the bankruptcy laws. <br /> We have been working with consultants to restructure our <br /> financial affairs and had just about completed our <br /> reorganization plans before being forced to file. Chapter 11 <br /> will give us the added time that we need to complete our <br /> .reorganization. <br /> I am confident that we will have a successful reorganization. <br /> Our key suppliers have committed their support and we have <br /> had no interruption of our service to you. We value your <br /> continued business. You can count on my unqualified support <br /> in return. <br /> I will keep you advised of our status and look forward to a <br /> speedy conclusion to the situation. <br /> you in advance, FIRM: 13RONSON, I3RONSON & MGKINNON <br /> 505 MONTGOMERY SIRE, T <br /> SAN F ;lSCO, CA 94III-'L514 S'I'UI'PlGIIAPTEIR I I 1.D 1192- 10290 <br /> )',hank <br /> im McCaffrey - - <br /> 01-'1�.ICE. . . . . . . . . . . . . . . . . ./115-986-4200 <br /> FAX. . . . . . . . . . . . . . . . . . . . .415-982- 1394 <br /> R.O. Box 076 365 Todd Road - Santa Rosa - California - 95402 <br /> (707) 504-7650 - (707) 795.1773 - (000) 227-2505 <br />