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February 6, 2009

US: Bruno’s files for Chapter 11

Bruno's Supermarkets filed for Chapter 11 bankruptcy protection yesterday (5 February), a spokesperson for the US retailer has confirmed.

Bruno’s Supermarkets filed for Chapter 11 bankruptcy protection yesterday (5 February), a spokesperson for the US retailer has confirmed.

“The group has filed for Chapter 11 in order to restructure operations. It is not clear what shape this will take. Disposals have not been ruled out but at the moment it is business as usual at our stores,” the spokesperson told just-food.

The supermarket group named Jim Grady as chief restructuring officer. Restructuring and corporate advisory firm Alvarez & Marsal has also been appointed to help with the restructuring process. 

In a statement, Bruno’s said its cash from operations will meet its normal business obligations.

“Bruno’s operations are expected to continue uninterrupted throughout the bankruptcy process,” the company said.

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