US grocery distributor Fleming has said it has not received any qualifying bids to compete with the offer of US$400m from C&S Wholesale Grocery for Fleming's wholesale grocery business.
US grocery distributor Fleming has said it has not received any qualifying bids to compete with the offer of US$400m from C&S Wholesale Grocery for Fleming’s wholesale grocery business.
Fleming, which filed for bankruptcy protection in April, said it would therefore ask the Bankruptcy Court in Wilmington on Monday to approve the sale to C&S.
C&S’ bid consists of $75m for the assets of the Fleming unit, $230m for inventory and $95m in potential royalties, reported Dow Jones News.
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