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MILAN, Ill. - Eagle Food Centers Inc., which owns and operates supermarkets in Illinois and Iowa, announced on Friday that it will close four underperforming stores. The move is part of Eagle's store evaluation and ongoing restructuring plan.
The store in Princeton, Ill., will close on Aug. 26, and the three stores in Davenport, Iowa will close on Sept. 2, the company said.
"Eagle continues to market the stores for sale and looks forward to optimizing the outcome for all of its constituencies. To date we have not received bids on these particular locations and felt it was necessary to close these stores given their poor performance," said Eagle chairman, CEO and president Robert J. Kelly.
The deadline for submitting bids in the competitive bid process being conducted under section 363 of the U.S. Bankruptcy Code has been extended to Aug. 8, 2003.
Eagle Food operates 51 Eagle Country Markets in Iowa and Illinois.