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.
food: March 2009 Archives
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.
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.Those creditors, including the governor, are each owed between "$100 in wine to $47,000."But the company's bankruptcy filing reveals that it had widespread and, in some cases, famous clients.
