UTICA, N.Y. -- Failure to meet a mid-September bond debt payment ultimately led Victory Markets and New Almacs into bankruptcy protection, Clark Ogle, Victory's president and chief executive officer, told SN last week. According to Ogle, the missed Sept. 15 debt payment triggered a nervous reaction among vendors, which in turn prompted the two chains to file Chapter 11 to protect their assets and customers. Ogle said the core group of stores is "very profitable on the operating line, but ...

REGISTER TO VIEW THIS ARTICLE - Register for a Free Account

Why Register for FREE?

Salary Survey 2015

Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick.  What are you waiting for! In addition you will also receive complimentary access to the SN salary survey data tables.

Click here to read the FAQ page if you have any questions (opens in a new window)

Attention Paid Print Subscribers:  While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.

Already registered? here.