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....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.