Bashas' Said to File Chapter 11

Jul 13, 2009 10:00 AM, By MARK HAMSTRA


     ShareThis     

CHANDLER, Ariz. — Bashas' here has filed for Chapter 11 bankruptcy protection, according to local reports.

The company could not be reached for comment this morning, but local reports quote senior executives at the privately owned chain as saying that the company had made the filing as a result of the tight credit market and difficult market conditions in the Phoenix area.

Basha's, which is privately owned, operates about 158 supermarkets in the region under the Bashas', AJ's and Food City banners. The chain had closed five stores earlier this year and had another 10 stores slated for closure beginning next week.

Mike Proulx, president and chief operating officer, was quoted in the Sierra Vista Herald as saying, "Our whole focus and intent is to not sell, not close down, not liquidate — when we emerge [from bankruptcy] the first quarter of 2010, we'll be a leaner, stronger, better operation for another 77 years."

Read More of Today's Headlines



Acceptable Use Policy
blog comments powered by Disqus

Subscribe / Renew to Supermarket News

Supermarket News

The most reliable source of industry news and insight...in print and online.

Most Viewed News

Read More News


WH Refresh Blog

Bob Vosburgh Bob Vosburgh:

SN Editorial Videos

The Lempert Report

Marketing analysis, issues and trends from supermarket industry analyst Phil Lempert.

New Products Hits and Misses

Product reviews from supermarket industry analyst Phil Lempert.

The Role of Technology at Save Mart Supermarkets

Aashish Chandra, senior director of IT Save Mart, talks about his company's approach to technology.

SN Sponsored Videos

Pan-Oston Mobile Innovation Centers Tour

The Supermarket Guru shows the front-end technology you can experience during the tour.

View All

Articles by Market
Retail/Financial
Executive Changes
Grocery/Center Store/
Brands
Health & Wellness
In-Store Bakery/Deli/Meals
Logistics
Marketing
Meat/Seafood/Dairy
Nonfoods/Pharmacy/HBC
Produce/Floral
Specialty/Ethnic
Technology

Quick Poll

Key Issues & Topics
Food Safety/Recalls
Legislation/Regulations
Sustainability/Green
More Topics
Resources
Profiles & Rankings
SN Awards
SN Data
White Papers/Studies
Webinars
Trade Show Calendar
Subscribe to SN
Total Access Blog
WHRefresh Blog

Upcoming Events

View More Upcoming Events

Subscribe to SN

Subscribe to SN Newsletter

In-Depth News Stories

Latest SN Cover

Subscriptions

Get access to print and / or in-depth online conent.

Register Here

newsletter image

SN Free Daily Update

The food trade's leading daily news service.

Register Here

Retailers Temper Outlooks

The recession may be over but so too is the post-recession rebound.

More Real Estate Opportunities Open Up

For supermarkets looking for additional locations, it's a renter's market out there.

Stop & Shop, A&P in Ad Fracas

Price wars between supermarkets are tumbling off the shelves and into courtrooms.

Subscribe to SN's Content Today!

Subscribe to SN's Content Today!

Corporate Finance

Read in-depth coverage of quarterly reports.

Marketing Trends

New promotions, new pricing, new products.

Subscribe to SN's Content