Rite Aid Corp. has entered into a series of sale and pharmacy services transition agreements. This includes the rolling transition of pharmacy assets from more than 1,000 stores across the U.S. to operators including CVS Pharmacy, Walgreens, Albertsons, Kroger and Giant Eagle, among others, as well as the sale and operation by CVS Pharmacy of […]
Tag: bankruptcy
Posted inDairy News, Home Page Slider, Southwest
Court Approves Sale Of Substantially All Dean Foods Assets
On April 4, the U.S. Bankruptcy Court for the Southern District of Texas has approved the sale, subject to entry of final agreed orders, of a substantial portion of Dallas, Texas-based Dean Foods’ business operations, including the sale of the assets, rights, interests and properties relating to 44 of the company’s fluid and frozen facilities, […]
Posted inDairy News, Home Page Slider, Southwest
Dairy Farmers Of America To Purchase Majority Of Dean Foods’ Assets
Dean Foods Co. announced March 31 that, following a comprehensive sale process and a competitive auction as part of its Chapter 11 process, Dairy Farmers of America (DFA) has been named the winning bidder to acquire a substantial portion of Dean Foods’ business operations. Pursuant to the agreement, which is subject to final approval by […]
Posted inMidwest, Home Page Slider, Industry News, Wholesaler/Distributor News
Central Grocers Vendors: Attorney Lays Out Issues Around Bankruptcy Trustee Lawsuits
The bankruptcy trustee for Central Grocers has filed numerous lawsuits against the company’s vendors seeking to have them disgorge tens of millions of dollars. These lawsuits are called “preference actions” in the bankruptcy world. Attorney Kurt Carlson, who concentrates his practice on representing clients in litigation, corporate transactions, commercial bankruptcy, restructurings and creditors’ rights, recently […]
Posted inSoutheast, Corporate Store News, Home Page Latest News, Store News
Southeastern Grocers Completes Financial Restructuring
Southeastern Grocers (SEG) has emerged from Chapter 11 after completing its financial restructuring. Through this process, SEG says it has transformed its financial profile and established a strengthened balance sheet by decreasing overall debt levels by approximately $600 million, including $522 million of debt exchanged for equity in the reorganized company. With its new financial foundation, SEG hopes […]
Posted inShelby Content, Grocery News, Home Page Latest News, Industry News, Northeast, Recommended Reading, Snacks Brands, Suppliers
Recommended: Maker Of Candy Hearts And NECCO Wafers Sold
The bankrupt maker of Necco Wafers, Sweethearts conversation hearts and other beloved American candies has a new owner. The Ohio-based Spangler Candy Co. had the winning $18.83 million bid for the New England Confectionery Co. at a federal bankruptcy auction in Boston. Wednesday’s acquisition ensures at least a short-term future for the candy maker better […]
Posted inRecommended Reading, Corporate Store News, Home Page Latest News, Industry News, Shelby Content, Southeast, Store News
Recommended: Winn-Dixie Parent Files For Chapter 11 Bankruptcy
Southeastern Grocers, the Jacksonville-based parent of Winn-Dixie and four other supermarket chains, filed its previously announced Chapter 11 bankruptcy restructuring plan early Tuesday morning. The case was filed in U.S. Bankruptcy Court for the District of Delaware. New York firm Weil, Gotshal & Manges LLP is the company’s lead attorney. The company already has an […]
Posted in, Corporate Store News, Home Page Latest News, Industry News, Southeast, Store News
Southeastern Grocers Filing Prepackaged Chapter 11, Closing 94 Stores
Jacksonville, Florida-based Southeastern Grocers (SEG), parent company of Bi-Lo, Fresco y Más, Harveys Supermarket and Winn-Dixie stores, has entered into an agreement with creditors to restructure its debt through a prepackaged Chapter 11 bankruptcy filing. The agreement will give unsecured note holders ownership of the company by canceling the notes and exchanging them for equity in the company, reports the Jax Daily Record. The company is […]
Posted inNortheast, Home Page Latest News
Tops Sets Up Vendor Information Website Following Chapter 11 Filing
Tops Markets has set up both a consumer and vendor website to answer questions about last week’s Chapter 11 filing and financial restructuring process. Information is available at topsrestructuring.com or by calling the information hotline, toll-free from the U.S., at 888-764-7358. Tops CEO Frank Curci has said that the company intends pay vendors in full […]
Posted inRecommended Reading, Corporate Store News, Home Page Latest News, Industry News, Shelby Content, Southeast, Store News
Recommended: Winn-Dixie Reportedly Planning To Close Almost 200 Locations
A regional supermarket chain is reportedly planning to close up to 200 shops as its parent company prepares to file for bankruptcy. Bi-Lo LLC, the parent company of Winn-Dixie, is preparing a potential bankruptcy filing as soon as next month, people with knowledge of the situation told Bloomberg. Winn-Dixie will shutter close to 200 locations […]
Posted in, Northeast
Bankruptcy Judge Confirms Fairway Group Holdings Reorganization
Bankruptcy Judge Michael E. Wiles last week accepted the reorganization plan of Fairway Group Holdings Corp., parent company of Fairway Market of New York City. Fairway is expected to emerge from bankruptcy during the week of June 20, with approximately $50 million in cash, a substantial reduction of its debt by $140 million and a […]
Posted in, Northeast
Fairway Group Files Prepackaged Chapter 11 Reorganization
Fairway Group Holdings Corp., parent company of Fairway Markets, a New York City food retailer, has reached an agreement with its lenders on the terms of a reorganization that will eliminate approximately $140 million of debt and provide financing to restructure the company’s balance sheet. The group filed a Joint Prepackaged Chapter 11 Plan of […]
Posted in, Independent Store News, Industry News, Midwest, Suppliers
Dahl’s Foods Files For Reorganization, Will Be Bought By AWG
Dahl’s Foods has filed a voluntary Chapter 11 petition for reorganization in Des Moines, Iowa. Chapter 11 provides a process by which companies can reorganize and obtain necessary financing to complete a restructuring of its business while continuing regular business operations. The process does not affect Dahl’s store operations. All Dahl’s locations will continue to […]
Posted in, Corporate Store News, Southwest
Alco Stores Files Chapter 11 Bankruptcy
Coppell, Texas-based Alco Stores Inc. and its subsidiary, Alco Holdings LLC, filed voluntary petitions for Chapter 11 relief in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, on Oct. 12. Debtors expect to continue to operate their businesses as “debtors-in-possession” (DIP) under the jurisdiction of the bankruptcy court and in accordance with […]