BIRMINGHAM, Ala. (AP) - Birmingham-based Bruno's Supermarkets is
filing for bankruptcy.
A statement issued by the company on Thursday said it was
reorganizing under Chapter 11 bankruptcy laws.
The grocery chain said Thursday it plans to continue operating
without interruption. It said chief executive Kent Moore has
resigned and is being replaced by Jim Grady, a senior director with
corporate turnaround firm Alvarez & Marsal.
The statement said Bruno's is struggling because of tight credit
markets and tough times for retailers, but it has enough cash to
pay its normal obligations. It is negotiating a financing package
to improve its standing.
Bruno's Supermarkets operates 66 Bruno's and Food World stores
in Alabama and the Florida Panhandle.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
NewsNews
Local Supermarket Files For Bankruptcy
By:
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WKRG-TV
Published: February 05, 2009
Published: February 05, 2009
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