Andronico's Gets $20 Million Bid From Renovo

SAN FRANCISCO — Andronico's Community Markets here has received a bid of $20 million from Renovo Capital, a Texas-based private investment firm, to buy the company and move it out of Chapter 11 bankruptcy protection.

SAN FRANCISCO — Andronico's Community Markets here has received a bid of $20 million from Renovo Capital, a Texas-based private investment firm, to buy the company and move it out of Chapter 11 bankruptcy protection.

Renovo already owns $29 million of Andronico's secured debt and has loaned the company $5 million to enable it to operate through mid-October, a chain spokesman said.

Two other potential buyers have expressed an interest in acquiring Andronico's, but the sp

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