During the nine months ended September 30, 2011, changes in market conditions, principally the changes in the market prices of petroleum products, caused TA to make significant investments in working capital. Inventory at September 30, 2011, was $16.8 million higher than at December 31, 2010, due to increases in fuel prices, nonfuel wholesale purchase prices and the increased amounts of inventories required to respond to increased sales levels. Accounts receivable and accounts payable both also increased as a result of higher fuel prices and sales levels.During the nine months ended September 30, 2011, TA entered into four new franchise agreements with operators of travel centers, including one in Alabama and one in Virginia during the third quarter. TA currently expects that these two franchisee owned and operated sites will begin to operate under the Petro Stopping Centers and TA brands during December 2011.
TravelCenters Of America LLC Announces Third Quarter 2011 Results
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