Bashas' Delays Financing

CHANDLER, Ariz. Bashas' said last week it believes it is starting to see the light at the end of the tunnel of its year-long bankruptcy, though high interest rates in the capital markets are threatening to keep that light at a distance. Edward Basha 3rd, senior vice president, told employees that a pending deal to secure new financing should enable the company to emerge from Chapter 11 bankruptcy

CHANDLER, Ariz. — Bashas' said last week it believes it is “starting to see the light at the end of the tunnel” of its year-long bankruptcy, though high interest rates in the capital markets are threatening to keep that light at a distance.

Edward Basha 3rd, senior vice president, told employees that a pending deal to secure new financing should enable the company to emerge from Chapter 11 bankruptcy protection “no later than August.”

The timing of any deal, however, co

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