Arizona Republic
Bashas' the 78-year-old Arizona-based grocery store chain,entered Chapter11 bankruptcy protection last summer, the result of therecession, competition and a building spree from earlier years. TheRepublic article notes that, since then, Bashas' has closed 30stores, laid off more than 1,000 people, and settled its disputewith the United Food and Commercial Workers Union Local 99.
Albertsons, which has stated it wants the Bashas' retail grocerystores and distribution center to beef up its own presence inArizona, could attempt to gain support of Bashas' securedcreditors, which the article says don't like the company'sreorganization plan as they're unsecured claimants. The Republicsaid Bashas' submitted a tentative reorganization plan in January2010 proposing to pay off the company's $300 million debt ininstallments.
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