BIRMINGHAM, Ala. -- Bruno's here said last week it hopes to emerge from Chapter 11 bankruptcy by Sept. 1.
998. It is scheduled to go to court Wednesday to get approval for its disclosure statement, which includes a plan of reorganization.
James A. Demme, chairman, president and chief executive officer, told SN last week he was encouraged by "significant progress" the company made during the first quarter ended May 1, which showed positive earnings for the first time in eight quarters and a same-store sales decline of less than 1%.
According to Demme, net income for the 13-week quarter was $600,000, compared with a loss of $11.3 million for last year's first quarter.
