CHANDLER, Ariz. — Bashas’ here said yesterday it plans to seek approval from the U.S. Bankruptcy Court in Phoenix to close 14 more stores.
The chain closed 10 stores when it filed for Chapter 11 restructuring on July 12, after closing five stores earlier in the year, leaving it with a total of 158 prior to the latest planned closings.
“We've been working on a restructuring plan to ensure the long-term survival of our company and to preserve as many jobs as possible,” Mike Proulx, president and chief operating officer, told SN. “In order for us to be a stronger company, we need to close some more underperforming stores, along with stores in newer areas that just didn't grow or develop.”
As part of the restructuring, Proulx said a team of internal and external experts has been reviewing each store to determine its viability, “weighing in a number of factors such as lease agreements, sales volume, store expenses, profit/loss and overall trade-area conditions.”
The 14 stores include 10 in the Phoenix market, including six Bashas’, three Food City units and one AJ’s; and four outside the metropolitan Phoenix area, including three Bashas’ and one Food City.
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