You are here
MILAN, Ill. - The U.S. Bankruptcy Court for the Northern District of Illinois has approved Eagle Food Centers' two separate purchase agreements for certain assets related to three of its stores to Hy-Vee and one store to J.B. Sullivan Inc.
Completion of the transactions remain subject to certain conditions with a final closing expected by Sept. 22, 2003 for the Hy-Vee transaction and Sept. 5, 2003 for the J.B. Sullivan purchase.
A court hearing has been scheduled for Sept. 11, 2003 to consider the sale of certain stores to The Kroger Company, SVT LLC, and Harold E. Wisted.
In addition, Eagle Food Centers selected J.B. Sullivan Inc. as the highest and best offer in connection with the Eagle store located in Freeport, Ill. The company expects that sale to be approved at the Sept. 11 hearing.
Eagle Food Centers, which operates 50 Eagle Country Markets in Iowa and Illinois, continues to pursue opportunities for the balance of its stores, including setting a subsequent auction for 10 of its stores on Aug. 28 and extending the bid deadline to Sept. 11 for the remaining stores.