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Andronico’s Markets appears to have buyer


Andronico’s Markets appears to have buyer

POSTED BY administrator on Oct 29 under Kitchenware

Andronico’s Markets appears to have buyer
News from Sacramento Bee:

An upscale San Francisco Bay area grocery chain appears to have found a buyer after filing for bankruptcy.

The Oakland Tribune reports ( http://bit.ly/uWIo9G) that Andronico’s Markets is slated to be sold by the end of the week to Renovo Capital.

Renovo has agreed to pay $ 16 million for Andronico’s, a regional chain with seven locations.

John Murray, a bankruptcy attorney for Andronico’s, says Renovo plans to invest in the stores.

Still, Andronico’s announced this week that it was closing one of its Berkeley markets.

The chain sells gourmet and other specialty foods in addition to wine and kitchenware. It filed for bankruptcy in August after an aggressive expansion plan led to cash problems.

…………… continues on Sacramento Bee
… Read the full article

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