BASHAS' BANKRUPTCY EXIT DELAYED
PHOENIX — Bashas' here will emerge from bankruptcy protection later than initially expected as the retailer works to settle differences with its lenders, reports said last week. Bashas' had hoped to exit Chapter 11 protection as soon as this month but it has been pushed back until at least May. The company filed bankruptcy in June and filed a reorganization plan in January. While most creditors approved the plan, passage has been held up by banks and insurance companies in possession of bonds worth $215 million, a Los Angeles Times report said.
GIANT EAGLE BUYS 5 STORES IN PA.
PITTSBURGH — Giant Eagle here will acquire five western Pennsylvania stores from Tops Markets, the companies said last week. The stores, operating under the BiLo Foods and Quality Markets banners, are former Penn Traffic stores acquired in a bankruptcy auction earlier this year by Williamsville, N.Y.-based Tops Friendly Markets. A purchase price was not disclosed. Tops said it would immediately begin inventory liquidation at the stores, located in Brookville, DuBois, Johnstown, St. Marys and Titusville, and transfer the properties in 30 to 45 days. Giant Eagle said it would reach out to its independent owners about operating the acquired locations.
BJ'S SETTLES MD. BOGO DISPUTE
BALTIMORE — BJ's Wholesale Club has agreed to pay Maryland's Consumer Protection Division here a $40,000 penalty and said it would refund money to as many as 2,000 Maryland shoppers who paid for items that should have been free, Douglas F. Gansler, Maryland's attorney general, said. The Consumer Protection Division alleged that BJ's, Natick, Mass., during late 2008 and early 2009 provided consumers with buy-one, get-one-free coupons for certain items, but the coupons' fine print limited their value to an amount that in some cases was less than the cost of the item.
FRESH MARKET PREPS MASS. DEBUT
GREENSBORO, N.C. — The Fresh Market here last week opened its first location in Massachusetts, a 23,500-square-foot specialty store in the Hingham Shipyard project on Boston's South shore. “We are pleased to expand our reach in the Northeast, which is an area we have targeted for continued growth,” Craig Carlock, president and chief executive officer of The Fresh Market, said in a statement. The retailer operates 94 stores in 18 states.
SUPERVALU AMENDS CREDIT PACTS
MINNEAPOLIS — Supervalu here last week said it had completed its previously announced plan to amend and extend its revolving credit facility and a portion of its term loans. In a statement, Pamela Knous, Supervalu's chief financial officer, said the amendment — along with ongoing debt reduction efforts — “represent important milestones toward ensuring our future liquidity.” According to a published report, the amendment pushes $1.5 billion in revolving credit from June 2011 to June 2015.
FRESHDIRECT EXPANDS INTO CONN.
NEW YORK — Internet grocer FreshDirect here last week began serving four communities in the Greenwich, Conn., area and expanded its service to additional communities in neighboring Westchester County, N.Y. The expansion marks FreshDirect's first presence in Connecticut. It also serves the New York City metro area and parts of New Jersey.