Fleming to Close 12 Rainbow Foods Stores
May. 09, 2003
HOPKINS, Minn. (AP) _ Fleming Cos., the food distributor and grocer that is operating under Chapter 11 bankrupcty protection, plans to close 12 Rainbow Foods stores in Minnesota and Wisconsin by June 10.
The 12 stores were excluded from the 31 Rainbow supermarkets that Pewaukee, Wis.-based Roundy's Inc. has offered to buy from Fleming.
Pat Liska, president of Hopkins-based Rainbow Foods, said stores were informed of the pending closings Wednesday night and Thursday.
The number of employees affected by the planned closings was not immediately available. Rainbow's corporate office referred all questions Friday to Fleming spokesman Shane Boyd, who did not immediately return a phone call.
The four stores scheduled for closing on May 31 include the two Rainbows in Rochester; one of the two stores in Blaine, and one in Wausau, Wis.
The eight stores scheduled for closing on June 10 are all in Minnesota _ in Albert Lea, Faribault, Mankato, St. Cloud, Oak Park Heights, Brooklyn Park, Brooklyn Center and one of the three stores in Plymouth.
Roundy's has offered $82.5 million, plus assumptions of leases, to acquire the 31 other stores. They are all in the Minneapolis-St. Paul area except for one in Weston, Wis.
A federal bankruptcy court in Delaware, where Fleming has filed for Chapter 11 protection, will hold an auction on the Roundy's bid later this month in a process scheduled to be completed by June 4.