Super Plus cash crunch - Eight outlets closed, headquarters

[Karl]

Super Plus cash crunch - Eight outlets closed, headquarters sold, three stores on market
March 13, 2009 -

Faced with supply creditors taking a hard line, soaring costs, collapsing sales and plummeting profits from its once diversified food distribution business, Super Plus Food Stores has shuttered up to eight of its supermarkets and wholesales, sent 600 workers packing, sold its St Andrew headquarters for $88 million, and is now hunting more cash, putting up three of its food stores for sale.

Super Plus cash crunch - Eight outlets closed, headquarters sold, three stores on market

[Willi]

Wow,
This is just like the Russian guy at ClubOrlov predicted.

Big box retailers going bust and people have to rely on neighbourhood grocery shopping like in the old time days. The trend is revealing itself.

[MdmeX]

The bad thing is that many of the neighborhood stores (mom & pop) went obscure with the advent of these super stores. So in some communities folks will have to travel for supplies.