MOUNTVILLE, Pa. -- In business since 1865 and one of the top 20 convenience store distributors in the country, Cooper-Booth Wholesale Co. LP, a wholesaler in the Mid-Atlantic region, has become collateral damage over an investigation and indictments in the state of New York involving cigarettes it sold to a customer, smuggled into the Empire State and sold without tax stamps. The federal government froze Cooper-Booth's main bank account, which has forced it to declare Chapter 11 bankruptcy on May 21, executives said.
According to the bankruptcy court declaration of Barry Margolis, Mountville, Va.-based Cooper-Booth's president and CEO, Cooper-Booth and its two corporate partners "were experiencing sales growth, were operating profitably and the future was bright and prosperous."
The bankruptcy was not in response to the company's business practices; rather, they were the "victims of unfortunate circumstances."
















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