Report: Bashas’ shuttering 14 stores

CHANDLER, Ariz. Almost one month after filing for bankruptcy protection, the 15th largest privately owned supermarket chain in the country will close 14 underperforming stores.

Bashas’ food stores said it plans to close 14 underperforming stores as part of its Chapter 11 bankruptcy filing.

The company has retained $45 million in financing to fund ongoing operations. Bashas’ plans to continue operating all of its brands, including Food City, which caters to Hispanic shoppers, and high-end grocer AJ’s Fine Foods.

Bashas’ president and COO Mike Proulx said in a release the company needs to close some underperforming stores along with stores in newer areas that didn’t grow or develop.

Bashas’ wants to close 10 stores in metro Phoenix and one store each in Winslow, Tucson, Marana and Willcox by Oct. 10.

The company said it is working to place as many employees as possible affected by the closings at other locations.

“We made this bold move to help preserve the business and the jobs of our more than 10,000 employees,” Bashas’ president and CEO Mike Proulx said last month of the bankruptcy filing. “We did this to improve the health of the company as we navigate through difficult economic times.”