BIRMINGHAM, Ala. — As many as two dozen bidders are expected for Belle Foods’ 44 remaining stores when they are put up for auction next month, according to a local report.
C&S Wholesale Grocers, which is Belle Foods’ primary lender, is seeking to recover through the Sept. 24 auction the $38.3 million in loans and credit that Belle Foods owes, according to a report on al.com.
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The report cited Associated Wholesale Grocers, Kansas City, Kan., as a potential bidder for some of the stores. According to the report, AWG had bid on some of those stores when they were up for sale through the bankruptcy auction of Bruno’s five years ago, but the stores were awarded to C&S because of the supply-contract rejection agreement the stores had with C&S.
“It was in the magnitude of tens of millions of dollars in the Bruno’s case,” Mark Benedict, an attorney for AWG, told the court.
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