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REDMOND, Wash. - A subsidiary of Associated Grocers re-opened the Larry's Market unit here it bought in August, reviving the venerable supermarket banner after the old Larry's Market had filed for bankruptcy.
The new owner, called Supermarket Management Corporation (SMC), said it was living up to its motto of "Outstanding Products, Outstanding Prices" by lowering prices on more than 10,000 of its 30,000 SKUs.
Growing competition and poor financial management was said to have forced Larry's to put itself up for sale. It filed for Chapter 11 bankruptcy protection in May, more than $21 million in debt.
In August, the Redmond store was purchased by SMC, a wholly owned subsidiary of Associated Grocers. "We see a great opportunity to re-establish the Larry's Redmond Town Center location as one of the prominent supermarkets on the Eastside," said John Runyan, AG's president and c.e.o.