WAYNE, N.J. -- The state of the Union -- Grand Union Co. here -- is improving. Five months after completing a financial restructuring that eliminated nearly $600 million in debt from its balance sheet, Grand Union believes it is headed in the right direction and the retailer is winning the confidence of financial analysts. The company believes it now has the flexibility to broaden its customer base and become a stronger competitor in the Northeast. "We want Grand Union to be known as a ...

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