BP America Inc. said Thursday it will sell all of its more than 700 company-owned and -operated U.S. convenience stores over the next two years, eliminating nearly 10,000 jobs.
The company said most of the sites will be sold to franchise owners, while some will be sold to dealers and large distributors. The sites will continue to sell BP fuels in the eastern United States and Arco fuels in the western U.S., with the store brand now to be known as “ampm” nationwide.
About 95 percent of BP’s 13,000 U.S. retail sites currently are independently operated.
The sale of the 700-plus stores will eliminate 9,500 positions and 350 business support staff. About 100 employees from BP’s pipelines and logistics unit will also be affected, the company said.
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