ALBUQUERQUE, N.M. -- Furr's Supermarkets here said last week it has retained an investment banking firm to advise the company on strategic alternatives.
g a voluntary petition for reorganization on Feb. 8.
Furr's said PJSC will help the company determine the potential directions it can go, including restructuring its existing indebtedness, obtaining new debt or equity financing, pursuing a business combination with one or more entities, or selling all or part of its assets.
A company spokeswoman said the court is unlikely to rule on Furr's request to hire the investment banker until late this month. She said she was unable to pinpoint how long it would take PJSC to offer an opinion on what the chain should do.
According to Furr's, Peter J. Solomon Co. has provided advisory services to Albertson's, Boise, Idaho; Big V Supermarkets, Florida, N.Y. (currently operating under Chapter 11); Ralphs Supermarkets, Compton, Calif. (which now operates as a subsidiary of Kroger Co. Cincinnati); and Supervalu, Minneapolis, as well as to companies outside the food industry.
