New York-based Seasons Kosher Supermarket, which operates seven independent grocery stores in the New York area and one in the Baltimore area, has voluntarily filed a petition for reorganization under Chapter 11 of the bankruptcy code to preserve and strengthen the company for a stronger balance sheet and to fully restore operations.
A commitment of $6 million in private funding will allow the independent grocer to fully stock the shelves at its eight locations, fulfill vendor obligations and allow for normal operations during the restructuring period.
“There is nothing we love more than providing Seasons' family with the warmest kosher shopping experience, and we look forward to refocusing on that singular goal," said Mayer Gold, CEO.
The chain opened its first store in 2010 and announced it was expanding beyond its New York/New Jersey roots last year to create what the company’s design firm called the first national kosher supermarket chain.
Seasons Kosher Supermarket recently has been plagued by reports of empty store shelves, especially in the meat department, causing many to speculate about the grocer’s financial health.