Yes, Andronico's is in trouble.
Last week, we reported on vendors of the Bay Area supermarket chain telling us they have not been paid in months, and were wondering what was going on (sfg.ly/lbaJvj).
According to an e-mail we received Wednesday afternoon from CEO Bill Andronico, the company is looking to "recapitalize" and to "bring in lending/investor partners to replace the existing lender group and, additionally, provide growth capital."
The e-mail adds:
"As with other small family companies, Andronico's continues to operate with many business challenges on a daily basis. The economic climate of the past several years has also contributed to these difficulties.
To read the rest of the story, please go to: San Francisco Chronicle
