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Tops Friendly Market – Another Grocer Going into Bankruptcy

Touch the Soil News #945 (Feature photo – Tops Friendly Market – CCA SA 4.0 International) Tops Friendly Market in the Northeast is filing a Chapter 11 Bankruptcy. This is not a liquidation, but an attempt to re-organize it’s roughly $723 million in debt and try to keep its doors open. If their plan works, they will emerge from the bankruptcy sometime in the future to keep on selling groceries. Tops Friendly Market has 169 stores and some 15,000 employees across three states. Earlier this month another much larger grocer – Winn Dixie Stores – also filed for Chapter 11 Bankruptcy. Winn Dixie has almost 500 stores and 41,000 employees.…

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When the Rug is Pulled Out From Under

Touch the Soil News #942 (Feature photo – Winn-Dixie Grocery Store – CCA SA 4.0 International) Winn-Dixie Stores Inc. is a 495 store grocery chain headquartered in Jacksonville, Florida. The company is estimated to have 41,000 employees. With roots back to 1925, the grocery chain has had a tough time. In 2005, the company went into Chapter 11 bankruptcy which allows the company to restructure and try to carry on. In 2011 Winn Dixie was purchased by Southeastern Grocers. Rumors have surfaced in the grocery industry that Winn-Dixie may be filing for bankruptcy again and possibly shuttering 200 stores. While we are all familiar with financial competition, is it not…

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The Economics of the Food Chain Don’t Lie

Touch the Soil News #504 We often hear the economy has rebounded and improving. However, when it gets down to it, the economy runs on paychecks that leave folks with some spending power above the basics. The restaurant industry is the first to feel a recession as purchasing power among the masses weakens. And 2016 has not been nice to restaurants. Two thirds of all restaurant company stocks have fallen so far this year with the average decline at 8.3 percent. The cause of the drop in stock values comes from declining consumer spending at restaurants. This softening of spending has precipitated the largest wave of restaurant bankruptcies in modern…

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