BANKRUPTCY KEEPS SUPERMARKET OPEN

Bankruptcy keeps supermarket open. A beloved grocery store chain has run into tough times. It needed the help of bankruptcy lawyers to stay in business. Dahl’s Foods has been around the state of Iowa a very long time. Many have fond memories of the store as long as they can remember. The chain used to have no trouble making lots of money. That was in the past. The supermarket competition has heated up. Many competitors have entered the market. This has eaten away at Dahl’s Foods’ profits. The company had to do something to survive. The result was visiting bankruptcy attorneys. That turned into filing a Chapter 11 bankruptcy. Many saw this coming. Three stores were recently closed. Problems with the company retirement plan also were rumored. The Chapter 11 bankruptcy filing was needed to keep the remaining markets open. The bankruptcy filing listed $44 million in assets and liabilities of $41 million. Bankruptcy lawyers state the bankruptcy filing will allow the company to reorganize their debts and obtain necessary financing.  A company in Kansas City will buy the company. The stores will remain open while the bankruptcy case moves forward. Associated Wholesale Grocers, Inc. will take over the stores. This will add to the other 3,000 stores they already own. The new owner has promised exciting new improvements. The stores will be remodeled and updated. New branding for the stores is also promised. This will help Dahl’s Foods compete with all the other chains that have come to Iowa.  It appears visiting bankruptcy lawyers was a smart move. A well-known and loved brand will be saved. With a successful bankruptcy case, the sky is the limit. The hope is that Dahl’s Foods will now be around for many years to come. Serving future generations. Saving the jobs of the workers. Keeping an institution alive. All thanks to bankruptcy attorneys.