BIRMINGHAM, Alabama – Associated Wholesale Grocers Inc. and its group of grocers and operators submitted the winning bid at Tuesday’s Belle Foods bankruptcy auction. The winning bid was nearly $16.13 million plus the discounted purchase of the inventories of many of the stores.
Based on its plan filed as a “stalking horse” bidder with the U.S. Bankruptcy Court for the Northern District of Alabama, AWG and its group of 11 other bidders intend to keep 30 of the 43 remaining Belle Foods stores open. The fate of the other 13 stores – though listed as closed or closing – will be determined by their new owners.
An attorney overseeing the auction said the winning bid was essentially the stalking horse bid with a couple of minor adjustments. The bankruptcy court must now approve the sale.
At least half a dozen bidders were expected to make a play for the Birmingham-based bankrupt grocer’s stores at the closed auction held earlier Tuesday.
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