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A U.S. Bankruptcy Court judge has given the go-ahead to the sale of 56 stores owned by Bruno's Supermarkets, LLC to Southern Family Markets for $45.8 million, according to published reports. The approval came yesterday at the close of a scheduled hearing. An auction of Bruno’s assets was held last Wednesday.
Southern Family Markets, a division of Pembroke, N.H.-based C&S Wholesale Grocers, will reportedly continue operating 31 of the stores under their Bruno’s and Food World banners, while the remainder will be liquidated by its bidding partner, Hilco Merchant Resources.
Bruno’s lawyer, Robert Rubin, told Judge Benjamin Cohen that Southern Family was the only qualified bidder at last week's auction that was interested in buying the stores as a going concern, the Birmingham, Ala., News reported, adding that the United Food and Commercial Workers, which represents over 2,000 of the bankrupt grocer’s 4,000-plus workers, backs the sale.