The Katz Group, an Edmonton-based giant drugstore chain that has drug store chains in Canada as well as Snyder's in the Upper Midwest, named Andy Giancamilli as president and COO of its North American operations. Giancamilli, a pharmacist by training, comes from Canadian Tire, where he was an EVP.

Giancamilli's will join an executive management team that will work closely with Daryl Katz, chairman of the Katz Group, to lead the company's continued growth and development. Also on the team are Paul Marcaccio, EVP and CFO, and John Karvellas, EVP and general counsel.

Giancamilli's primary responsibility will be as chief restructuring officer of Snyder's, and he will work with Gordon Barker, president of the chain who will now serve as special advisor to the chairman.

Snyder's filed a Chapter 11 reorganization plan before Judge William Bodah in US Bankruptcy Court for the Northern District of Ohio in Youngstown. Snyder's major creditors and the company's largest supplier support the filing, the company says.

The 77 corporately owned and operated Drug Emporium stores affected by the reorganization plan are located in Pennsylvania, New Jersey, New York, Michigan, Ohio, Missouri, Oklahoma, Kentucky and Wisconsin. Not affected are several independently owned and operated Drug Emporium stores in Texas and West Virginia. At Drug Emporium, employees and customers will be advised about store sales and closings as they occur.

The company recently hired Ernst & Young Corporate Finance LLC as their financial advisors while it is under Chapter 11 reorganization.

Instant Insights /

GlobeSt.com UPDATE: New Executive to Oversee Snyder's Reorganization

Related Stories

Recommended For You