Local Business Files for Chapter 11 Bankruptcy Protection

Jasper (NNDC):

Cash Saver in Jasper’s Germantown Shopping Center is closing it’s doors in November:

cashsaverBuehler, Inc. and Buehler, LLC, Indiana-based companies with 15 grocery stores operating across Indiana, Illinois, and Kentucky, have filed for Chapter 11 protection from their creditors in the Southern District of Indiana.

The Chapter 11 filing allows daily operations to continue without interruption—the majority of stores will remain open, although there will be some store closings impacting underperforming locations. The companies employees will be paid, and goods and services purchased by the company going-forward will be paid for in the ordinary course of business.

 

While the decision to pursue restructuring through bankruptcy was extremely difficult, the company believes this step is necessary to preserve value as competition in the industry continues to increase. After reviewing every alternative, the company concluded that Chapter 11 protection clearly provides the most effective and efficient means to ensure the best recovery.

The company is confident that restructuring, trimming expenses, and consolidating operations will lead to a more efficiently run and stronger company.

 

Speak Your Mind

*