State College, Pa.-based Uni-Marts L.L.C. says it is almost ready to exit bankruptcy with a Chapter 11 plan or a sale of assets, Bloomberg News reported today.

The onetime operator of 485 stores in five states, which was taken private in 2004 by the Sahakian family and private equity investors, saw its intended buyer exit the deal, the news service said.

A June 15 hearing in U.S. Bankruptcy Court in Wilmington is expected to determine whether the stores and gas stations can be sold at auction Aug. 18, Bloomberg said.