Lubricant blender Bodie-Hoover Petroleum Corp. is going out of business – the result, say company officials, of a tough economy and an unfavorable lease. The Chicago-area company has sold off inventories and plans to vacate its quarters by the end of this month.
We were actually selling more of our own motor oil this year than we ever have before, said Manager of Plant Operations Dan Lyons. But we lost a couple of large contract blending accounts and werent able to overcome the loss of business. That, combined with the burden of the lease. Were very disappointed, but you take the hand youre dealt and move on.