Arizona's largest retailer files for bankruptcy protection
Arizona's largest retailer files for bankruptcy protection
Bashas', Arizona's largest grocery store retailer with 158 stores, filed for bankruptcy protection in mid-July and announced that it would close 10 stores by July 21.
The amount of produce debt covered by the PACA Trust amendment appears to be in the neighborhood of $5 million, and experts expect that it will be paid. In fact, Bashas' has informed its creditors that it hopes to reorganize and emerge from bankruptcy within three months.
The amount of produce debt covered by the PACA Trust amendment appears to be in the neighborhood of $5 million, and experts expect that it will be paid. In fact, Bashas' has informed its creditors that it hopes to reorganize and emerge from bankruptcy within three months.