Uni-Mart seeks bankruptcy

Uni-Mart seeks bankruptcy

There are 44 comments on the Centre Daily Times story from May 31, 2008, titled Uni-Mart seeks bankruptcy. In it, Centre Daily Times reports that:

Uni- Marts LLC filed voluntary petitions for Chapter 11 bankruptcy Thursday as part of an overall plan to sell the company, an attorney representing the company said.

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Shaun Kahn

Punxsutawney, PA

#1 Jun 5, 2008
Uni-mart's long term strategic plan was to sell the stores at three times the actual price, to innocent dealers. They wanted to bankrupt the dealers and then take back the stores. They deceived the innocent dealers by showing them false financial information. On top of that, they over charged gas prices to innocent dealers over the period of time. Also, their long term plan was to sell the property of all the stores to a third party company, which they did without informing the dealers, although in the PSP's, the right of first refusal belonged to the dealers. Then, suddenly they filed the bankruptcy to save more than 80 million dollars that they owed to the creditors such as gasololine and other grocery vendors. Uni-mart is charging three times more rent that what the store rent is worth, to the dealers.

Uni-marts master mind Mr. Raj Wakharia, the gujrati Indian is responsible for all this game plan. Now, the question is how long uni-mart could fool the dealers more? It's about time for government authorities to look into this matter seriously before all innocent dealers file bankruptcy and suffer financialy more than ever.

Please, don't buy uni-mart stores even if they offer to anyone for free.
dealer

Hazleton, PA

#2 Aug 6, 2008
I fully agree with shawn, i dont know how uni-mart preyed on innocent individuals and sold them stores by showing fraudualent financials and secondly kept on exploiting the dealers and now after making millions and probably wiring the funds to an offshore account by sucking innocent dealers blood ,have filed for bankrupcy.
Its a shame that no offical inquiry is placed on thier wrondoings.
they should be in jail.
dealer

Hazleton, PA

#3 Aug 6, 2008
well the Ara na Alex Sahakian along with henry sahakian should be help responsible for doing fraud and cheating and punished for thier misdoings
LLC

Marlton, NJ

#4 Aug 26, 2008
unimart is just a downright bitch and today we'll find out if karma serves them right.
helen

Punxsutawney, PA

#5 Aug 31, 2008
they should be run out of town with their high prices.Our gas is always higher at a uni mart, and they are filing bankruptcy(PLEASE) We need to put in a sheetz store
knowledgeable

University Park, PA

#6 Sep 12, 2008
From someone that is somewhat knowledgeable in the process, you can't blame Uni-Marts for the Dealer's failures. First of all, when the stores were originally put up for sale I personally looked into purchasing one (or more). It took me about 5 minutes to come to the conclusion that I wouldn't touch one of those sales agreements with a ten foot pole. I have no business experience at all and could see that the financials listed didn't include most of the operating costs. It's not Uni-Marts fault that there were big enough suckers out there to buy the locations. Also, I highly doubt that it was Uni-Marts intention to hope the dealers went bankrupt so they could take the stores back, as anyone that follows the bankruptcy proceedings and reads the documents in the court docket can plainly see that taking back a location is much more costly than anything else they have encountered. Having to take back the dealer locations probably played more in bankrupting the company than antyhing else did!
Bill Evans City Pa

Galion, OH

#7 Nov 10, 2008
The unimart in Evans City went out of business and the one about six miles away in Zelienople went out of business about six months ago. Hopefully we can get a better store in our area.
jon smith

Clearfield, PA

#8 Nov 11, 2008
knowledgeable wrote:
From someone that is somewhat knowledgeable in the process, you can't blame Uni-Marts for the Dealer's failures. First of all, when the stores were originally put up for sale I personally looked into purchasing one (or more). It took me about 5 minutes to come to the conclusion that I wouldn't touch one of those sales agreements with a ten foot pole. I have no business experience at all and could see that the financials listed didn't include most of the operating costs. It's not Uni-Marts fault that there were big enough suckers out there to buy the locations. Also, I highly doubt that it was Uni-Marts intention to hope the dealers went bankrupt so they could take the stores back, as anyone that follows the bankruptcy proceedings and reads the documents in the court docket can plainly see that taking back a location is much more costly than anything else they have encountered. Having to take back the dealer locations probably played more in bankrupting the company than antyhing else did!
.

Sounds like knowledgeable is a family member of the unimart!
jon smith

Clearfield, PA

#9 Nov 11, 2008
the owners of unimart have been playing this game for many years! some one needs to contact our local state and government elected officials ! its there job to do something.
knowledgeable

University Park, PA

#10 Nov 12, 2008
A family member of the unimart? I think not... whatever it is you're trying to say. I just have a lot of inside information, and a brain that thinks beyond the tunnel-visioned approach.
Shaun Kahn

Northern Cambria, PA

#11 Jan 22, 2009
Mr. Knowledgeable, why don't you identify yourself. You are a uni-marter and you are equally responsible as the rest of the uni-mart staff. We have sufficient documentation to prove that uni-mart defrauded dealers and that's why they settled the law-suit out of the court because they knew that if the case went before the grand jury, not only that uni-mart could be out of the picture but all the executives could be jailed as well.

Don't even talk about that, "Mr. Knowledgeable, my foot".

Ask those innocent dealers who not only lost their life time savings and businesses but their families are also suffering and they left the country to survive.
andy

Sigel, PA

#12 Feb 9, 2009
uni mart out smarted them all.we were all stupid
do your home work.before blaming them.
hats off to uni mart. we all dumb fools
kukos uni mart
ImTiredOf_It

Danville, PA

#13 Feb 11, 2009
Unimart never was a fancy place, but I stopped in one out of desperation for coffee. From my experiences, they keep it fresh and it is smooth. Turkey Hill has a coffee problem because workers simply neglect to watch shelf life.
kevin some head

Altoona, PA

#14 Feb 27, 2009
unit mart stores are for sale,buy them now and prosper all your life
have nice stores in nj pa and md
go for it you will never regret
you will ran to bank
their books are in order and they donot cheat people
most trustworthy company in usa
jack ass

Altoona, PA

#15 Mar 4, 2009
buy unit mart stores if you have money you will get rich in 10yrs of lease of bussiness
they sell bussiness at fair price
there is no fruad ,rajubhai is a honest man trust him he is mba trained in bussinesss assessment
after 10 yrs you will happy retire in your homeland
bravo unit mart for helping people unload their money
Hey

State College, PA

#16 Mar 8, 2009
Unimart sucks!
ImTiredOf_It wrote:
Unimart never was a fancy place, but I stopped in one out of desperation for coffee. From my experiences, they keep it fresh and it is smooth. Turkey Hill has a coffee problem because workers simply neglect to watch shelf life.
jack ass

Somerset, PA

#17 Mar 8, 2009
buy remaining unit mart stores and prosper all your life
bussiness is terific
people like to buy from convience stores
give all your money to them,it is best bet in town
digusted

State College, PA

#18 Mar 9, 2009
sucker is born every day
some body

Patton, PA

#19 Mar 17, 2009
for unit mart stores sucker is born every minute.............ha ha ha
angry man

Johnstown, PA

#20 Mar 20, 2009
jack ass and sucker is born every second

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