food: March 2009 Archives

Lindt & Sprüngli closing stores

| | Comments (0) | TrackBacks (0)

Chocolatier Lindt & Sprüngli is closing 50 of its 80 U.S. retail outlets in reaction to a sales downturn. The company, which sells Lindt chocolates and also owns Ghirardelli, is moving to a mall-based retail plan. Lindt's woes do not match those of the greater chocolate industry; competitors such as Nestle are doing well in the current market.

BI-LO bankrupt

| | Comments (0) | TrackBacks (0)

Southern grocery chain BI-LO Supermarkets filed for bankruptcy with nearly $1 billion in outstanding debt. The company has 215 stores across the Carolinas, Georgia and Tennessee. BI-LO expects to continue operating during bankruptcy proceedings. BI-LO spinoff Bruno's also filed for bankruptcy earlier this year.

Meadowbrook Farms, a cooperative of more than 200 family hog farm members who used a central processing plant in Illinois, has filed for chapter 7 bankruptcy. The cooperative owed its members money, having had a cash crunch shortfall because of a large default by a purchaser.

Bankruptcy Reveals Creditor Names

| | Comments (0) | TrackBacks (0)

Here's a fascinating side effect of bankruptcy filings--we get to learn the semi-interesting names of creditors. From North Carolina:

Raleigh's Carolina Wine Co. left vino lovers across the country with empty glasses when it suddenly shut down this year.

But the company's bankruptcy filing reveals that it had widespread and, in some cases, famous clients.

Those creditors, including the governor, are each owed between "$100 in wine to $47,000."

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

About this Archive

This page is a archive of entries in the food category from March 2009.

food: February 2009 is the previous archive.

food: April 2009 is the next archive.

Find recent content on the main index or look in the archives to find all content.