Creditors Vote to Accept Fleming Reorganization Plan
NEW YORK -- An attorney for bankrupt grocery distributor Fleming said the company's creditors have voted to accept a proposal to restructure the firm around its convenience store business.
Attorney James Sprayregen told a bankruptcy judge that Fleming is making progress in resolving objections to the plan ahead of a hearing on July 26, reported the Dow Jones News.
Fleming filed for Chapter 11 bankruptcy protection at the beginning of April 2003, after losing a contract with its biggest customer, Kmart. The company has since sold off its wholesale distribution business and its retail operations, and now plans to focus its efforts on its convenience store supply business, Core-Mark.
Attorney James Sprayregen told a bankruptcy judge that Fleming is making progress in resolving objections to the plan ahead of a hearing on July 26, reported the Dow Jones News.
Fleming filed for Chapter 11 bankruptcy protection at the beginning of April 2003, after losing a contract with its biggest customer, Kmart. The company has since sold off its wholesale distribution business and its retail operations, and now plans to focus its efforts on its convenience store supply business, Core-Mark.