USA: Fleming mulls sale of core businesses
Bankrupt US food distributor Fleming has said it is exploring the possible sale of its core grocery wholesale business and its Coremark unit, which supplies convenience stores.
The decision comes a week after Fleming lost its business from retailer Target Corp, which swapped to rival distributor Supervalu.
The two units are basically all that is left of Texas-based Fleming, which filed for bankruptcy protection in April after losing its contract with discount retailer Kmart, which itself recently emerged from bankruptcy protection, reported Reuters.
Fleming said it has received interest from both financial and strategic buyers, but declined to identify any interested parties.
A Fleming spokesman, Shane Boyd, told Reuters that the company would still make day-to-day improvements on its operations as its restructures under bankruptcy protection.
Fleming said that by the end of July it would close its wholesale divisions in Geneva, Alabama; Lafayette, Louisiana; and Superior, Wisconsin.
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