New leadership helps C&K Market emerge from bankruptcy
New leadership helps C&K Market emerge from bankruptcy
With a new president in place and a new chief financial officer hired, Brookings, OR-based C&K Market Inc. is expected to emerging from bankruptcy protection this summer. A confirmation hearing before the U.S. Bankruptcy Court is set for June 25 in Eugene, OR.
David D. Doty, the company's new CFO, brings several decades of experience, including serving as the CFO of Star Markets Ltd. on the Hawaiian Islands. Most recently he held the same position for Meadow Valley Corp., a heavy highway civil construction firm based in Phoenix.
Karl Wissmann, an industry veteran with more than 40 years of retail food experience, joined C&K earlier this year as chief operations officer and was recently appointed to the position of president. He’s demonstrated his strategic planning and operational expertise with leading West Coast food retailers, most notably with Ralph’s, a division of Kroger.
“Our employees continue to impress me with their commitment to our customers and the communities we serve,” Wissmann said in a press release. “My excitement about the opportunity to grow this independent chain is even stronger than on my first day on the job. We’re poised for success.”
Wissmann also noted that he collaborated with Doty in the successful turn-around of Star Markets when he was its president and CEO.
“The grocery marketplace has changed substantially over the past decade,” Wissmann said in the release. “It may seem that bigger competitors will prevail, yet the new economy offers many opportunities for smaller, independent chains. We recognize that customers may now shop at both a big box and a local grocer. Our challenge is to listen to our customers and give them choices that will encourage them to shop more in our stores.”
C&K filed a voluntary petition for Chapter 11 bankruptcy protection in late 2013.
“Entering Chapter 11 was a difficult decision for our family,” Doug Nidiffer, chairman of the board, said in the release. “As we prepare to emerge, we know we made the right decision. Karl’s proven leadership and vision will guide this company into a bright future. We look forward to serving local community needs for many years to come.”
