Local Supermarket Files For Bankruptcy

Bankruptcy Brunos Supermarket A statement issued by Bruno's on Thursday said it was
reorganizing under Chapter 11 bankruptcy laws.

by Associated Press

Published: Thu, February 05, 2009 - 8:50 am CST Last Updated: Thu, February 05, 2009 - 9:48 am CST

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.)

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Razorsharp Says:

Thu, Feb 05, 2009 at 11:41 am

Once again, it is corporate greed. Until these companies start trimming the fat, they will continue to crumble one after another. CEO’s and corporate hogs continue to devour this countries economy. Dew, $2.49 of that $3.49 cola is going towards paying the outrageous and ridiculous salaries of CEO’s and corporate pigs.

DEW26M Says:

Thu, Feb 05, 2009 at 9:58 am

I can’t understand why a store that charges $3.49 for a 2-liter coca-cola and 8$ for a 4lb bag of sugar could be going out of business? I will have to ponder on this for a little while!