VALU FOOD FILES CHAPTER 11, GETS LOAN

BALTIMORE -- Valu Food here said it has filed for Chapter 11 reorganization. The regional chain also secured $2 million in financing from its primary wholesaler and hopes to parlay that loan into viability.The retailer will use the money to implement a six-month plan that Lewis Denrich, Valu Food president, said he believes will lead to viability. The loan, secured by a lien on Valu Food's inventory,

BALTIMORE -- Valu Food here said it has filed for Chapter 11 reorganization. The regional chain also secured $2 million in financing from its primary wholesaler and hopes to parlay that loan into viability.

The retailer will use the money to implement a six-month plan that Lewis Denrich, Valu Food president, said he believes will lead to viability. The loan, secured by a lien on Valu Food's inventory, was made by Supervalu Operations here, a wholly owned subsidiary of Minneapolis-base

Register to view the full article

Already a member? .

TAGS: Supervalu