Reuters: Regulatory News: UPDATE 1-SMF Energy files for bankruptcy protection

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UPDATE 1-SMF Energy files for bankruptcy protection Apr 16th 2012, 12:29 April 16 | Mon Apr 16, 2012 8:29am EDT April 16 (Reuters) - Petroleum products supplier SMF Energy Corp said it has filed for Chapter 11 bankruptcy protection as it failed to lower costs to offset falling sales. The company said competitive pressures prevented it from increasing prices, and it could not cut enough costs to make up for the fall in revenue. As of Dec. 31, the company listed total assets of $37 million and liabilities of $25.1 million. SMF Energy listed ConocoPhilips, DuPont Pension Trust, Atlas Oil Co and others among its largest unsecured creditors. The case is In re: SMF Energy Corp, U.S. Bankruptcy court, Southern District of Florida. No: 12-19084.

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