Grocer Carter's shuts stores, files for bankruptcy

Food retailer Grocer Carter's Inc has closed its 14 Michigan stores and filed for Chapter 7 bankruptcy. With total debt of more than $20 million to as many as 2,000 creditors, Carter's intends to liquidate, selling assets and distributing proceeds among creditors.

Creditors have already begun legal proceedings against Carter's. The grocer's chief supplier, Minneapolis MN-based Nash Finch Co, has stopped shipping to Carter's stores.

Carter's also owes almost $1 million to J A Besteman Co, a Grand Rapids MI-based produce wholesaler.

TAGS: Grocery
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.