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.

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