MEGAFOODS SHUTS 9 UNITS, POSTS LOSS

MESA, Ariz. -- Megafoods Stores here has closed nine of its 71 stores and hired a new chief financial officer on an interim basis as its works its way through Chapter 11 bankruptcy protection.The company last week also reported a loss of $15.96 million for the second quarter ended July 2, compared with net income of $967,000 a year ago. Megafoods said the loss was "significantly higher than expected."

MESA, Ariz. -- Megafoods Stores here has closed nine of its 71 stores and hired a new chief financial officer on an interim basis as its works its way through Chapter 11 bankruptcy protection.

The company last week also reported a loss of $15.96 million for the second quarter ended July 2, compared with net income of $967,000 a year ago. Megafoods said the loss was "significantly higher than expected." Megafoods, as reported, filed for Chapter 11 protection Aug. 17.

The store

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