Belle Foods Gets OK For $16M Sale Of 43 Grocery Stores

Law360, New York (September 30, 2013, 7:14 PM EDT) -- An Alabama bankruptcy judge on Friday signed off on a $16.1 million sale of 43 of Belle Foods Inc.’s grocery stores to Associated Wholesale Grocers Inc., the sole bidder for the assets.

U.S. Bankruptcy Judge Jack Caddell approved the deal at a court hearing, finding it was the best option available and met the requirements of a sale under Section 363 of the U.S. Bankruptcy Code. Birmingham, Ala.-based Belle Foods entered bankruptcy in July, blaming increased competition and higher payroll taxes for its financial troubles....
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