US distributor Fleming has been given bankruptcy court approval to sell 40 of its retail stores for some $118m.
Fleming is to sell 31 of its Minnesota-based Rainbow Foods stores to Roundy's for about $84m, including $40m worth of stock. The company will also sell its Food4Less stores based in California for $27m plus stock of $ 5m to Save Mart Supermarkets.
US grocer Kroger has been cleared to buy three of Fleming’s Food4Less stores based in California for a total of $10m.
Fleming which filed for Chapter 11 bankruptcy protection on April 1 has so far closed 27 stores and had sought bankruptcy court permission to close the 40 stores being sold if it couldn't find a buyer.
Fleming is to sell 31 of its Minnesota-based Rainbow Foods stores to Roundy's for about $84m, including $40m worth of stock. The company will also sell its Food4Less stores based in California for $27m plus stock of $ 5m to Save Mart Supermarkets.
US grocer Kroger has been cleared to buy three of Fleming’s Food4Less stores based in California for a total of $10m.
Fleming which filed for Chapter 11 bankruptcy protection on April 1 has so far closed 27 stores and had sought bankruptcy court permission to close the 40 stores being sold if it couldn't find a buyer.
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