Prattville – On Monday U.S. Bankruptcy Court Judge Benjamin Cohen approved the sale of Bruno’s Supermarkets to Southern Family Markets.
Southern Family Markets is owned by C&S Wholesale Grocers Incorporated. The companies already had a bit in common with each other. Southern Family maintains its headquarters in the Bruno’s center off Lakeshore Parkway in Birmingham, Alabama, and C&S is the owner of the former Bruno’s warehouse next door.
The Prattville Food World location is one of the stores slated for closure by Southern Family. The stores liquidation is being handled by Hilco Merchant Resources and is expected to begin within the next week. The process is expected to take about 3 to 4 weeks and wrap up around the end of May or the first part of June.
Bruno’s auctioned off its assets and unexpired leases last week and Southern Family was the sole qualified bidder in a deal worth $46 million. A portion of the $46 million that the creditors will get includes around $10.5 million from CVS, Caremark, Target and Walgreen’s which are purchasing Bruno’s in-store pharmacy assets.
Jeff Burkhead, who heads Southern Family Markets, stated that he believes the Bruno’s name still has value and that they have no plans to convert any of the remaining stores to Southern Family Markets.
Article by Marc Parker
© 2009 Our Prattville. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without the express written consent of the publisher.