Mi Pueblo Grocery Store Chain Files For Chapter 11 Bankruptcy
SAN JOSE (KCBS)— A large family-owned grocery store chain in Northern California has filed for Chapter 11 bankruptcy, but Mi Pueblo's woes doesn't mean it's all bad news for grocery shoppers in East San Jose.
The grocery chain said it is current in all its financial obligations and that they haven't defaulted on any payments, but they are filing for bankruptcy protection because of an impasse with their only secured creditor.
As far as effects on customers, Perla Rodriguez said they shouldn't see a change.
"Our stores will be open. We're continuing to serve our customers everyday. We'll continue to pay our employees. It's simply a process of reorganization and it will take some months through the bankruptcy court and we fully expect to come out of it; hopefully in better shape than ever," Rodriguez said.
Smart & Final coincidentally announced the same day that they're opening a 20,000 square-foot store right across the street from the Story and King store. Smart & Final said the new store will open in September.
Mi Pueblo Grocery Store Chain Files For Chapter 11 Bankruptcy
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