Bella's Market operator files Ch. 11, Wellington store will remain open
Bella's Market purchased the struggling Main Street Market in June. VM Odell's, which operates Bella's Market stores through a licensing agreement, filed for bankruptcy Monday, claiming assets between $1,000,001 and $10 million and liabilities in the same range, according to documents filed with the U.S. Bankruptcy Court.
Samuel J. Mancini, president and chief executive of Bella's Market, told the Denver Post that the chain is financially viable but that the company was forced to take action because of "an overly aggressive creditor."
Mancini also told the Post that stores in Wiggins, Haxtun, Akron and St. Francis, Kan. will temporarily close, but would likely reopen Wednesday. The chain also operates stores in Wray, Limon, Stratton and Walden.
No jobs are expected to be lost throughout the chain.
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