Central Grocers reportedly will be sold. According to The Chicago Tribune, an April 18 lawsuit filed in federal court by Teamsters Local 703 alleges that the Joliet, Illinois-based cooperative has signed a letter of intent to “sell its operations and/or facilities.”
The newspaper also reports that co-op members received a letter in February from Central Grocers stating that its board of directors had hired New York-based Peter J. Solomon Co., an investment banking advisory firm, to consult.
Jeff Strack, president and CEO of the grocery chain, said in an April 18 letter to employees that Central Grocers was working with advisors to implement a sale of most Strack & Van Til stores as going concerns.
The Ultra Foods stores that will close are located in Gary and Merrillville, Indiana, and Lansing, Crestwood, Wheaton, Joliet, Chicago Heights, Calumet Park and Forest Park, Illinois.