ALMACS CHAPTER 11 PROPOSAL WOULD GIVE UNION 20% STAKE

PROVIDENCE, R.I. -- Almacs Supermarkets has filed a proposed reorganization plan and a related disclosure statement here in U.S. Bankruptcy Court for the District of Rhode Island that would give union employees a 20% ownership stake in the company.m Chapter 11 "a stronger, more viable competitor."Almacs, based in East Providence, filed for Chapter 11 bankruptcy protection last August. Since then it

PROVIDENCE, R.I. -- Almacs Supermarkets has filed a proposed reorganization plan and a related disclosure statement here in U.S. Bankruptcy Court for the District of Rhode Island that would give union employees a 20% ownership stake in the company.

m Chapter 11 "a stronger, more viable competitor."

Almacs, based in East Providence, filed for Chapter 11 bankruptcy protection last August. Since then it has been operating what Ireland called "a profitable core of 26 stores" in

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