Circle K’s rapid growth left its boss $100 million in personal debt.
Karl Eller, a billboard executive, took over the Phoenix chain in 1983 and grew it to 4,631 stores in 32 states, the largest publicly owned convenience chain in America. He meant to sell it to an oil company. By 1990 no buyer had come and the debt had passed $1 billion. The board ousted him, and Circle K went bankrupt.
Circle K on Brandseum