MEGAFOODS STORES FILES PLAN FOR REORGANIZATION

MESA, Ariz. -- Megafoods Stores here said last week it has filed a reorganization plan with the U.S. Bankruptcy Court in Phoenix that would enable it to emerge from Chapter 11 bankruptcy protection proceedings sometime next spring. Enactment of the plan would lay the groundwork for Megafoods to shore up its position in existing markets and undertake a long-range unit expansion program, the company

MESA, Ariz. -- Megafoods Stores here said last week it has filed a reorganization plan with the U.S. Bankruptcy Court in Phoenix that would enable it to emerge from Chapter 11 bankruptcy protection proceedings sometime next spring. Enactment of the plan would lay the groundwork for Megafoods to shore up its position in existing markets and undertake a long-range unit expansion program, the company said.

The reorganization plan covers 40 stores: 17 price-impact Megafoods units in Arizo

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