Belle Foods files for Ch. 11 bankruptcy - WBRC FOX6 News - Birmingham, AL

Belle Foods files for Ch. 11 bankruptcy

Source: WBRC video Source: WBRC video
BIRMINGHAM, AL (WBRC) -

Belle foods filed for Chapter 11 bankruptcy protection Monday.

The grocery store chain operates 57 stores in Alabama, Georgia, Florida, and Mississippi from its headquarters in Birmingham.

In June 2012, Belle Foods took control of Bruno's and several Food World stores in the Birmingham area. Documents filed in federal court say Belle Foodsa has one to 5,000 creditors and estimated assets and liabilities between $10 million and $50 million.

The company tells the court its older stores are having trouble competing with new competition and technical issues with its accounting system led to losses in 2012. They also say higher payroll taxes have cut the amount customers are spending.

Copyright 2013 WBRC. All rights reserved.

Powered by Frankly