WAYNE, N.J. -- Following a downturn in sales and operating cash flow, Grand Union Co. said last week it will close or sell up to about 25 underperforming units by April 1. The company will also restructure its debt by Jan. 15 to fund cash interest payments. In addition, Grand Union is re-examining its capital expenditure programs and has reduced its forward-buy inventory -- actions that "could have adverse impacts over time but are necessary during the restructuring process in order to ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess 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’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.