Food World in Troy, Ala., Wednesday, July 24, 2013. (Photo/Thomas Graning)
A scattering of cars sit in front of Food World in Troy Wednesday afternoon. The local store is slated to be sold.

Archived Story

Troy Food World to be sold during bankruptcy proceedings

Published 11:00pm Wednesday, July 24, 2013

Belle Foods has announced it is selling all 44 of it’s remaining stores – including the Troy Food World.

The move comes after the company filed for bankruptcy in early July and was granted a motion to sell 13 stores.

“Belle has agreed to sell the 44 stores because it believes the sale of the stores presents the best opportunity to maximize value for the benefits of its creditors,” the company said in a statement on its website.

Wednesday, Belle and C&S Wholesale Grocers, Inc. reached an agreement for debtor-in-possession financing approved by the U.S. Bankruptcy Court for the Northern District of Alabama, according to the company.

The financing and C&S commitment extend through at least Oct. 4.

“At this point, this is the best way to serve our customers, preserve jobs for our employees and support our communities,” said Bill White, owner and president of Belle Foods. “We expect these stores to be sold as ongoing operations and will work with any new owners to see that our people remain employed.”

Belle plans to employ a chief restructuring officer to help the company during the bankruptcy process and Belle owners have agreed to stay with the company for a period of time to assist with the restructuring officer’s transition.

 

  • WDM

    They will never do well until they lower their prices.

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  • TFan

    Prices high?? And everyone wants a local Publix??

    As nice as Publix Markets are, they’re not known for low prices.

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    • WDM

      I can’t afford to trade at Publix either but Food World is higher than others in Troy.

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    • Curly

      At least with Publix, I think you are getting better quality produce and meat and they do have good BOGO deals. Food World is just as expensive but bad.

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