February 18, 2009 / 9:50 PM / in 9 years

UPDATE 1-Bruno's to close 10 stores, reduce 30 positions

* Plans to close 10 underperforming stores

* Plans to reduce 30 corporate positions

* To retain Hilco to assist in liquidation of inventory

Feb 18 (Reuters) - Bruno’s Supermarkets LLC, which filed for bankruptcy earlier this month, said on Wednesday it would close about 15 percent of its stores and reduce about 30 corporate positions as part of its restructuring.

In a statement, the company said four Bruno’s stores and six Food World stores would be closed due to continued under-performance and that it planned to retain Hilco Merchant Resources to assist in the liquidation sales of inventory at the closing stores.

Bruno‘s, which owns and operates a chain of grocery stores in Alabama and the Florida Panhandle, filed for bankruptcy earlier this month. [ID:nBNG438022]

“Stores that are targeted to close will continue to operate over the next 30 to 60 days as going-out-of-business sales are conducted,” the statement said.

Bruno’s said the reduction in corporate positions would be “through attrition and position elimination” across areas including finance, human resources, information technology and store operations.

The case is In re. Bruno’s Supermarkets LLC, No 09-00634, U.S. Bankruptcy Court, Northern District of Alabama (Southern Division). (Reporting by Santosh Nadgir in Bangalore; Editing by Himani Sarkar)

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