Talks Break Down in Ukrop’s Deal: Source

Ukrop’s Super Markets here is in limbo again after the private equity group that entered into exclusive negotiations to purchase the chain dropped out of the bidding, sources told SN last week.

RICHMOND, Va. — Ukrop’s Super Markets here is in limbo again after the private equity group that entered into exclusive negotiations to purchase the chain dropped out of the bidding, sources told SN last week.

Speaking on condition of anonymity, the source told SN that some “contractual issues and an inability to get financing” were the primary reasons talks broke down, and that Ukrop’s has since resumed shopping itself to some bidders from earlier rounds.

Those talks included negotiations with a strategic suitor, Harris Teeter, that broke down in part because Harris Teeter was not interested in buying all of Ukrop’s store locations, the source added. Ukrop’s has not commented on a potential sale.

Read More of Today's Headlines [3]