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.
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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.
