Bruno's to close 10 stores, reduce 30 positions
As part of major restructuring effort aimed at reducing costs, improving profitability and focusing its resources on its strongest markets, Bruno's Supermarkets, LLC, plans to close about 15 percent of its stores and reduce about 30 corporate positions.
The Birmingham, Ala.-based retailer, which filed for Chapter 11 bankruptcy earlier this month, said 10 of its 66 stores that operate under Bruno's banners, including four Bruno's stores and six Food World stores, will close due to continued underperforming operations, pending court approval.
Due to its smaller footprint, the company said it would also reduce about 30 corporate jobs through attrition and position elimination across all headquarters areas, including finance, human resources, information technology, merchandising and store operations.
"It is never an easy decision to close stores or reduce positions, but we believe this is a necessary step that will enable Bruno's to be a more focused and competitive business across the region we serve," said Jim Grady, Bruno's chief restructuring officer. "We owe this to our customers and others who depend on us to operate efficiently, effectively and profitably."
Stores that are targeted to close will continue to operate over the next 30 to 60 days as going-out-of-business sales are conducted. Bruno's said it will retain Hilco Merchant Resources, an outside professional services firm, to assist in the liquidation sales of inventory at the closing stores.
Bruno's Supermarkets, LLC, is the parent company of Bruno's and Food World grocery stores, which includes 23 Bruno's locations and 43 Food World locations in Alabama and the Florida Panhandle. Founded in 1933, Bruno's has operated as an independent company since 2007, after undergoing several transitions and changes in ownership starting in 1995.
The Birmingham, Ala.-based retailer, which filed for Chapter 11 bankruptcy earlier this month, said 10 of its 66 stores that operate under Bruno's banners, including four Bruno's stores and six Food World stores, will close due to continued underperforming operations, pending court approval.
Due to its smaller footprint, the company said it would also reduce about 30 corporate jobs through attrition and position elimination across all headquarters areas, including finance, human resources, information technology, merchandising and store operations.
"It is never an easy decision to close stores or reduce positions, but we believe this is a necessary step that will enable Bruno's to be a more focused and competitive business across the region we serve," said Jim Grady, Bruno's chief restructuring officer. "We owe this to our customers and others who depend on us to operate efficiently, effectively and profitably."
Stores that are targeted to close will continue to operate over the next 30 to 60 days as going-out-of-business sales are conducted. Bruno's said it will retain Hilco Merchant Resources, an outside professional services firm, to assist in the liquidation sales of inventory at the closing stores.
Bruno's Supermarkets, LLC, is the parent company of Bruno's and Food World grocery stores, which includes 23 Bruno's locations and 43 Food World locations in Alabama and the Florida Panhandle. Founded in 1933, Bruno's has operated as an independent company since 2007, after undergoing several transitions and changes in ownership starting in 1995.