USA: Fleming gets approval for financing package, trade vendor programme

Troubled US grocery distributor Fleming has been granted approval from a US bankruptcy court for its US$150m secured debtor-in-possession financing package. Fleming also said it had suspended payment of its quarterly dividend which was slated for payment on 10 June, due to its Chapter 11 bankruptcy filing in April.

Troubled US grocery distributor Fleming has been granted approval from a US bankruptcy court for its US$150m secured debtor-in-possession financing package.

Fleming also said it had suspended payment of its quarterly dividend which was slated for payment on 10 June, due to its Chapter 11 bankruptcy filing in April.

The company also received court approval for its trade vendor programme, which Fleming hopes will help its to resume normal business with vendors, reported Dow Jones News Service.