The sudden collapse of Bear Stearns should have no immediate effect on retailer Balducci’s, which is owned by a private equity fund affiliated with the beleaguered investment bank.
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NEW YORK — The sudden collapse of Bear Stearns should have no immediate effect on retailer Balducci’s, which is owned by a private equity fund affiliated with the beleaguered investment bank. “It’s business as usual,” said Melissa Daly, a spokeswoman for Bear Stears Merchant Bank, which purchased Balducci’s four years ago. Daly said BSMB operates independently of Bear Stearns, although the bank, scooped up in a fire sale this week by JPMorgan, was one of the limited partners in the fund. Reports this week suggested the long-term future of the fund is murky, however, and may depend on how it is viewed by JPMorgan. Balducci’s operates 10 gourmet food stores on the East Coast.
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