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FLORIDA, N.Y. - Big V Supermarkets said Thursday the U.S. Bankruptcy Court for the District of Delaware has approved its reorganization plan, which calls for the acquisition of substantially all Big V's assets by Wakefern Food Corp., Elizabeth, N.J., a retailer-owned cooperative of which Big V had been the largest member.
Wakefern said it will acquire 27 Big V stores in New York's Hudson Valley and central New Jersey, which will be operated by Wakefern subsidiary Shop-Rite Supermarkets.
Three Big V stores not acquired by Wakefern will be closed, while another store closed earlier this year, according to a company spokesman. Both companies said they expect the reorganization plan to go into effect by mid-July.