Quaker Steak & Lube files for bankruptcy

Quaker Steak & Lube files for bankruptcy

Chain has $25 million deal to be sold to TravelCenters of America

Quaker Steak & Lube said late Monday that it has filed for bankruptcy protection and will be put up for sale.

There is a deal in place to sell the company out of bankruptcy to TravelCenters of America for $25 million. But another company could top that bid in an auction process, and a federal bankruptcy court must approve any deal.

The company expects approval to come early in 2016.

“TravelCenters of America brings in-depth experience and resources to hel

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