The company filed the Chapter 11 petition on Nov. 22. The filing "will enable Big V to reduce costs significantly, enhance liquidity and provide a strong foundation for future growth in the increasingly competitive supermarket industry," company officials state.

Among the store closings include three ShopRite supermarket locations in Dutchess County: 727 Beekman Rd. in Hopwell Junction; Route 9 and Route 40A in Hyde Park; and 53-61 Dutchess Tpke. in Poughkeepsie. The two other New York State closures will be at Big V's ShopRite locations at 52 Route 17K in Newburgh and 281 West Bridge St. in Catskill.

The company also reports that it plans to close two stores in Pennsylvania at 870 Scranton-Carbondale Hwy. in Enyon and 951 Loucks Rd. in York. All store closings are expected to take place over the next two to three months, company officials relate.

"While this was a difficult and painful decision to make, closing these stores will result in a significant cost savings, thereby strengthening the company's overall financial performance, and will allow us to focus our resources on the stores with the greatest potential," says James Toopes, president and CEO of Big V. "We intend to work closely with government leaders, outplacement specialists and others to try to minimize the economic and social impact of the store closings on the affected associates and communities."

A spokesman says it is not known how many Big V workers will be affected by the closings since the company believes many will be offered jobs at other store locations. Big V operates 39 ShopRite supermarkets in the Hudson Valley region of New York, New Jersey and Pennsylvania. All other Northeast Shop Rite supermarkets are owned and operated by members of the Wakefern Food Corp. cooperative and were not part of the bankruptcy filing.

Instant Insights /

Big V Supermarkets Files Chapter 11 Bankruptcy; Will Close Seven Area Stores

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