FORT COLLINS, Colo. -- Steele's Markets here, after 60 years in business, was scheduled to close its two remaining stores yesterday. The company recently underwent a reorganization as part of Chapter 11 bankruptcy proceedings, but could not shake off the burden of millions in debt incurred after the construction of a new store, according to Russell Kates, president of the family-owned chain. "The main cause was the fact that we built the $10 million new store in Fort Collins, and shortly ...
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.