Central Grocers Files Chapter 11 Bankruptcy
Central Grocers, Inc. has announced that the company and all of its subsidiaries have voluntarily elected to file for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The company intends to use this court-supervised process to conduct an orderly sale of its Strack & Van Til stores as going concerns and anticipates entering into a sale agreement with a stalking horse bidder in the near future. Central Grocers is also seeking to sell its distribution center in Joliet as it winds down its wholesale distribution operations. The company has been cooperating with its lenders and expects to have access to sufficient liquidity to continue operating its stores and winding down the distribution center in an orderly fashion.
Strack & Van Til Stores Are Open for Business
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All 22 Strack & Van Til, Town & Country Market and Ultra Foods stores in Indiana and Illinois are open and serving customers. Employees are receiving their pay in the ordinary course. Strack & Van Til intends to pay vendors in full for goods and services provided on or after the filing date, May 4, 2017.
Jeff Strack, President and Chief Executive Officer of Strack & Van Til, said, “Our stores are open, and we are as focused as ever on supporting our customers and providing the legendary service that we are known for. As we move through this process, our priorities, values and commitments to our customers and our communities will not change. We thank our loyal customers for their continued support, and we thank our employees for their hard work and dedication.”
Central Grocers Working Toward Sale of Stores and Distribution Facility
Central Grocers is continuing to work toward implementing a sale of the Strack & Van Til stores and a sale of its distribution center in Joliet and certain other assets. It is anticipated that any such sale transactions will be conducted pursuant to a court-supervised auction process under Section 363 of the U.S. Bankruptcy Code.
Ken Nemeth, President and Chief Executive Officer of Central Grocers, said, “In light of the increasingly difficult environment for independent supermarkets and retailers, we have been working tirelessly to achieve an outcome that is in the best interests of our stakeholders. We are using this court-supervised sale process to provide us the time and flexibility to conduct an orderly sale of the Strack & Van Til stores, while we work to sell the warehouse in Joliet and wind down our wholesale distribution operations.”
The company has filed a number of customary motions seeking court authorization to continue to support its operations during the court-supervised process, including payment of employee wages and benefits. In addition, the company intends to file a motion shortly in the U.S. Bankruptcy Court for the Northern District of Illinois seeking to dismiss the involuntary bankruptcy case commenced against Central Grocers in view of its voluntary Chapter 11 filing.
Central Grocers Gets Go-Ahead to Explore Sale
On Tuesday, April 25, Teamsters Local 703 and Central Grocers reached an understanding to resolve the union’s action for a temporary restraining order. Local 703 originally filed the action in federal court on April 18 based on information that Central Grocers would sell its facility in Joliet, Illinois.
The Teamsters represent approximately 300 members at Central Grocers, the supplier to hundreds of retail grocery stores in Illinois and majority owner of Strack & Van Til stores in Indiana.
Local 703 had sought an injunction of any sale, including a temporary restraining order, pending arbitration of the union’s claim that the sale would violate its labor contracts. Local 703 now has agreed to withdraw the action, without prejudice to re-filing, in exchange for certain assurances from Central Grocers regarding a potential transaction and receipt of certain confidential information that will allow the Teamsters to better assess the transaction and its potential impact on the labor contracts and members.
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The arrangement will allow the seller and buyer to proceed with exploration of the potential transaction without the disruption of litigation, while giving Local 703 new and concrete information necessary to better protect its interests and the interests of its members.
“Withdrawing our original action at this time is in the best interest of the union and our membership,” said Thomas W. Stiede, Secretary-Treasurer of Local 703. “Preserving our strong labor agreements in the grocery industry is paramount. The Teamsters will continue to work to gather information in the effort to protect members and prepare for what the future may hold.”
Retail Strategies for Multicultural Shoppers
With the rapid growth of multicultural households in America and their unparalleled influence on the marketplace, market researchers suggest that there is a strong need for retailers to revise their in-store strategies to include a wider range of fresh food products and flavor profiles that cater to the multicultural consumer set. With this in mind, Nielsen has released a comprehensive report to help retailers understand the influence multicultural consumers wield across the meat, produce, seafood, deli and bakery categories. The report entitled, “A Fresh Look at Multicultural Consumers,” reveals strategic insights for retailers looking to leverage new growth opportunities across the perimeter over the next several decades.
Multicultural consumers are the fastest growing segment of the U.S. population and the growth engine for fresh food categories within the grocery space. According to this Nielsen report, multicultural households spend a higher share on fresh food as a percentage of their total food spend compared to non-Hispanic white households. In fact, multicultural consumer shoppers make 3 percent more trips to the store containing fresh items and spend 4 percent more per year on fresh items. This results in a $2.2 billion opportunity for retailers.
For many multicultural families, fresh food is a dietary staple. The multicultural preference for fresh comes from cooking and eating norms that centrally reflect the unique cultures of African Americans, Asian Americans and Hispanics. That said, the allure of multicultural flavors and desire for fresh food are influencing a wider range of shoppers and becoming a key driving force for fresh growth.
“In order to tap this critical market, retailers need to rethink their delivery and assortment strategies of fresh products being offered to today’s increasingly multicultural shoppers,” said Courtney Jones, Vice President of Multicultural Growth and Strategy at Nielsen. “To be successful, retailers must understand the importance that culturally relevant, fresh offerings play in the multicultural shopper landscape. Retailers must also embrace the many layers of multicultural consumers and the undeniable ‘halo effect’ that those consumers are having on mainstream non-Hispanic white shoppers. The multicultural consumer covers a broad spectrum, from multi-generational families to Millennials, to Asian American, African American and Hispanic subgroups that have been influenced by distinct global culinary traditions. Retailers must consider the multi-ethnic tastes of their current and desired customers and recognize that the palates that favor multicultural flavors are influencing the taste preferences of non-Hispanic whites and society at large.”
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The report’s key findings include the notion that multicultural flavors have moved into the mainstream for the deli department and continue to grow, also attracting non-Hispanic white shoppers who are inspired by the ethnic flavors found in the deli. Multicultural consumers are taking advantage of the quick and easy meal solutions and meals for large families within the deli department.
In the produce department, all kinds of shoppers are being inspired by the produce used in culinary traditions other than their own, and social media influences, television cooking programs and popular restaurant flavor trends are infiltrating the produce aisle. For example, the growth of habañero, with items popping like habañero grilled vegetable and even habañero margaritas.
Neilson’s research found that multicultural consumers spend more in meat and seafood departments than any other fresh department. Within the seafood department, multicultural households spend $62 a year, compared to non-Hispanic white households at just $43. Multicultural consumers are less willing to purchase branded fresh meat and seafood items; instead there is preference towards made-to-order, unbranded meat products, typically prepared behind the counter.
The bakery offers the biggest opportunity for multicultural consumers, who spend only 9.8 percent of their fresh dollars on bakery items, according to Neilsen. The report suggests that the bakery’s proximity to the deli should be leveraged to create strong cross-department connections for multicultural shoppers across multiple entertaining categories.
