Fleming to Present C&S Agreement to Bankruptcy Court
DALLAS -- Fleming Companies, Inc. on Wednesday said it has received no qualifying bids to compete with the offer submitted by C&S Wholesale Grocery to acquire its wholesale grocery business. As a result, no auction will be held, and the company will seek approval of the C&S asset purchase agreement by the U.S. Bankruptcy Court in Delaware during the hearing scheduled for August 4, 2003.
Fleming, which filed for bankruptcy protection in April, agreed to sell the wholesale grocery distribution business to privately held C&S of Brattleboro, Vt. for an estimated $400 million.
The sale was dependent on bankruptcy court approval and C&S obtaining financing.
Fleming is exploring the possible sale of its major remaining business, distribution to convenience stores.
Fleming, which filed for bankruptcy protection in April, agreed to sell the wholesale grocery distribution business to privately held C&S of Brattleboro, Vt. for an estimated $400 million.
The sale was dependent on bankruptcy court approval and C&S obtaining financing.
Fleming is exploring the possible sale of its major remaining business, distribution to convenience stores.
