Bashas' files for bankruptcy protection (Phoenix, Chandler: credit, buying, closing)

[Greatday]

Arizona hometown grocer Bashas' Supermarkets Inc. filed for Chapter 11 bankruptcy protection late Sunday, hoping to buy time and money to ride out the recession.

Executives at the Chandler-based string of 158 Bashas', Food City and AJ's Fine Foods markets (156 in Arizona) say the company has been squeezed to the breaking point by tight credit conditions, aggressive competitors and by increasingly cost-conscious consumers who are buying beans and pasta instead of steak.

Bashas' files for bankruptcy protection; 10 stores to close

[ArizonaBear]

Wow...........just wow.

I saw that article this morning

[Bummer]

Originally Posted by ArizonaBear

Wow...........just wow.

I saw that article this morning

I caught this article earlier as well.

Whatever the claimed reasons . . . could it possibly be there are just too darn many large grocery stores and drug stores even during the good times?

[Ponderosa]

It's too bad. Basha's is a huge supporter of valley organizations and charities. They use profits from the Basha's and AJ's to subsidize and hold down costs at Food City and keep stores open in the poorer areas and at rural locales throughout the state. Corporate social responsibility just doesn't pay any more. I guess the little rip-off markets will move back into the poverty areas now as Basha's is forced to close Food City stores.

[locoenlacabeza]

I saw this article as well and was deeply saddened by it. I truly hope they can weather out the storm- they have been such a pilar in our community for so long.

[MaikeerinWA]

I haven't lived in Phoenix for many years, but Bashas is one of those iconic businesses of my youth. Very sad to read about this; hopefully they can successfully emerge from the proceedings.

[clcrisler]

Just remember. They're not going out of business. Just filing for protection. It's designed to help them get back to profitability once again. At least that's the theory. It'll be hard with the competition though. Whether one likes Bashas or not, we should all root for their success. It's always good to have competition.

[azdr0710]

they are the only grocery chain in Arizona still based here in the state....there's one reason we should patronize them...article in the Republic this AM said they were closing one Food City across from a new test-market Supermercado de WalMart on Thomas....tough news.....

I know they were/are the typical grocery store on the Indian reservations, too....

does anybody remember some union issue a couple years ago where management took a tough stand or something???.....what were the details on that and what resulted?....

[Greatday]

Originally Posted by azdr0710

they are the only grocery chain in Arizona still based here in the state....there's one reason we should patronize them...article in the Republic this AM said they were closing one Food City across from a new test-market Supermercado de WalMart on Thomas....tough news.....

I know they were/are the typical grocery store on the Indian reservations, too....

does anybody remember some union issue a couple years ago where management took a tough stand or something???.....what were the details on that and what resulted?....

The Bashas family has been serving small markets for YEARS - and the Indian reservations are part of that. We lived for a time in Tuba City and there was Basha's - with a lot of Mutton in the meat case.

The problem is, they value their employees and have not wanted to close underperforming stores because they did not want to lay off employees. I can appreciate that - and I admire them for that. BUT, it has proven to be a very bad business decision in the long run.

They have also had run ins with the Unions - who have been trying to unionize Basha's for years - and the Union has recently taken to lying about Basha's stores - to which Eddie said - ENOUGH! and has sued the Union for various things including Slander - and he is not backing off the suit.

[cap1717]

For years I have been thinking that if Basha's was more "convenient" for me, I would do most, if not all of my shopping there. . . time for me to stop being lazy and stop supporting the grocery giants!