Fairway Market, together with its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York (Case No. 20-10161), has received winning bids for six Fairway stores on a going concern basis. The bids are for five New York stores to Village Supermarket Inc., a Wakefern member, […]
Tag: Chapter 11
Posted inNonfood Items, Corporate Store News, Independent Store News, Marketing News, Southeast
Earth Fare Store Leases, Intellectual Property Assets Up For Sale
A&G Real Estate Partners (AGREP) and Hilco Streambank have been engaged by Asheville, North Carolina-based Earth Fare to market and sell all Earth Fare stores and leases, and its intellectual property, respectively. Earth Fare, the natural and organic grocer, announced liquidation sales at all of its stores on Feb. 3, and filed for Chapter 11 […]
Posted inNonfood Items, Corporate Store News, Home Page Slider, National
Updated: Lucky’s Market To Sell 11 Stores, Begins Chapter 11 Proceedings
Lucky’s Markets has agreed to sell various ongoing stores to its founders, Bo and Trish Sharon, who will be a stalking horse in the Lucky’s Chapter 11 process which was filed earlier this week, according to a Jan. 30 statement by investment banking advisor PJ Solomon. On Jan. 27, the Niwot, Colorado-based natural foods chain […]
Posted inSoutheast, Marketing News
Acosta Reorganizes, Emerges From Its Chapter 11 Bankruptcy
Acosta Inc., a Jacksonville, Florida-based full-service sales and marketing agency, has successfully completed its financial reorganization and recapitalization and emerged from Chapter 11 less than a month after filing. Through the process, Acosta eliminated all of its approximately $3 billion of long-term debt, and its new investors have funded $325 million in new equity capital. The reorganized company’s largest […]
Posted inDairy News, Home Page Slider, Perishables, Southwest, Suppliers
Court Approves $850 Million In DIP Financing For Dean Foods
The U.S. Bankruptcy Court for the Southern District of Texas has entered a final order granting Dallas, Texas-based Dean Foods Co. authority to access the full amount of its $850 million in debtor-in-possession (“DIP”) financing. The company previously had received interim approval from the court to access up to $475 million of the DIP financing. […]
Posted inRecommended Reading, Home Page Slider, Independent Store News, Midwest, Wholesaler/Distributor News
Recommended: Suit Filed Against Former Central Grocers Directors
A bankruptcy trustee has sued the former officers and directors of Central Grocers, once the largest grocery cooperative in the Chicago area and a wholesaler to hundreds of local retailers, for allegedly making self-interested decisions that drove the company into the ground. The suit, filed Tuesday [Nov. 19] in Chicago federal court, names 20 defendants, […]
Posted inDairy News, Home Page Slider, Southwest, Suppliers
Dean Foods Initiates Voluntary Reorganization With DIP Financing
Dallas, Texas-based Dean Foods Co. and substantially all of its subsidiaries have initiated voluntary Chapter 11 reorganization proceedings in the Southern District of Texas. The company intends to use this process to protect and support its ongoing business operations and address debt and unfunded pension obligations while it works toward an orderly and efficient sale of […]
Posted inHome Page Slider, Marketing News, Southeast, Suppliers
Acosta Filing Prepackaged Chapter 11 To Cut $3B Long-Term Debt
Acosta said Nov. 8 that it has reached terms with more than 70 percent of its lenders and more than 80 percent of its noteholders as a precursor to its prepackaged Chapter 11 filing. The Jacksonville, Florida-based sales and marketing agency said the plan will eliminate all of its approximately $3 billion of long-term debt. […]
Posted inNortheast, Corporate Store News, Home Page Latest News
Tops Markets Emerges From Chapter 11 Reorganization
Tops Markets LLC has successfully completed its financial restructuring and emerged from Chapter 11. The company, which reorganized with the support of its secured creditors and the Official Committee of Unsecured Creditors, says it is emerging with “enhanced financial flexibility and (is) well positioned for long-term success,” adding that it will invest in its stores […]
Posted inNortheast, Grocery News, Home Page Latest News, Independent Store News, Specialty, Store News
Seasons Kosher Supermarkets Files For Chapter 11
Kosher grocery retailer Seasons Kosher Supermarkets has voluntarily filed a petition for reorganization under Chapter 11 of the Bankruptcy Code. “In order to preserve and strengthen our ability to serve the local Seasons Family’s needs, we are focusing on emerging from the Chapter 11 filing with a stronger balance sheet and to fully restore operations,” the […]
Posted inNortheast, Home Page Latest News
Tops To Close 10 Stores As Part Of Financial Restructuring
Tops Friendly Markets, which filed for Chapter 11 bankruptcy in February, plans to close 10 underperforming stores in New York by Nov. 30. As part of the move, Tops will file a reorganization disclosure statement with the U.S. Bankruptcy Court, and a hearing is scheduled for Sept. 27. The 10 stores to be closed are […]
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 inNortheast, Home Page Latest News
NECCO Assets Sold At Auction As FDA Warns Of Unsanitary Conditions
This month, the FDA notified the New England Confectionery Co., better known as NECCO, of serious violations of “Current Good Manufacturing Practice, Hazard Analysis and Risk-Based Preventative Controls for Human Food” regulations at its manufacturing plant in Revere, Massachusetts. The violations included significant evidence of rodent activity and “insanitary conditions” throughout the facility collected during an […]
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 in, Home Page Latest News, Industry News, Store News
Tops Markets Files Chapter 11 To Pursue Financial Restructuring
Tops Markets LLC announced Feb. 21 that it has filed for Chapter 11 bankruptcy protection and is pursuing a financial restructuring in order to eliminate a substantial amount of debt from its balance sheet. The hope is that the move will position Tops for long-term success. Tops’ portfolio of stores in Upstate New York, northern […]
Posted inRecommended Reading, Corporate Store News, Home Page Latest News, Industry News, Shelby Content, Southeast, Store News
Recommended: Reports Say Winn-Dixie Parent Could Be Headed For Bankruptcy
Speculation began late last week that Southeastern Grocers, the fifth-largest conventional supermarket in the U.S., could be facing a Chapter 11 bankruptcy filing. The company employs more than 50,000 associates who serve customers in grocery stores, liquor stores and in-store pharmacies throughout the seven southeastern states of Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina. […]