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SHELLY

SoWal Insider
Jun 13, 2005
5,763
803
The best meat around is Bruno's Angus. I go for whatever is on special. Get veggies at Publix, For the health of it or Toni's
Bruno's Weekly Ad

You'd better stock up then, Bruno's/Food World filed for bankruptcy Feb 5:
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Bruno's owes Regions nearly $11 million, wants to close 10 stores

Bruno's Supermarkets LLC owes Birmingham-based Regions Bank about $10.8 million on a revolving line of credit, according to documents filed in the grocery store chain's Chapter 11 bankruptcy case.

Lawyers for Birmingham-based Bruno's and its creditors are appearing before U.S. Bankruptcy Court Judge Benjamin G. Cohen this morning on a series of procedural motions related to the Thursday filing.

Robert B. Rubin, who is representing Bruno's, told Cohen it is too early to say whether Bruno's will restructure its operations, liquidate or sell it off in pieces.

The company is proceeding with plans to reorganize, however.

Rubin cited a host of factors that led to Bruno's bankruptcy filing, including increasing competition, an economic downturn and a history of negative cash flow over the last year or two.

"Bruno's is again a victim of this perfect storm," he said.

The company now operates 23 Bruno's and 43 Food World locations in Alabama and Florida. Rubin said Bruno's expects to come forward with a motion to close 10 underperforming stores.
 
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