Bashas' Goes Into Chapter 11

Bashas' said last week it believes eliminating underperforming stores and investing in locations with stronger returns will enable it to be more competitive in a marketplace dominated by national chains. The family-owned company arranged for $45 million in debtor-in-possession financing before filing a voluntary petition for Chapter 11 bankruptcy protection last week and, as a

CHANDLER, Ariz. — Bashas' here said last week it believes eliminating underperforming stores and investing in locations with stronger returns will enable it to be more competitive in a marketplace dominated by national chains.

The family-owned company arranged for $45 million in debtor-in-possession financing before filing a voluntary petition for Chapter 11 bankruptcy protection last week and, as a result, expects to emerge during the first quarter of 2010 in a better financia

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