Under C&S's offer, the wholesaler would get about 185 of the nearly 197 stores operated by the company, as well as a distribution center located in Montgomery, NY. Grand Union, which is in Chapter XI bankruptcy and whose shares have been trading for as little as 13 cents, doesn't expect its shareholders to get anything if the $300 million sale is approved by the courts. The company is said to have $750 million in assets and $804 million in liabilities.
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