Belle Foods Approved to Sell Seven of 13 Stores Slated to Sell

<p>U.S. Bankruptcy Judge Jack Caddell has approved the sale of seven Belle Foods stores that were slated to close Aug. 8.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The order will pave the way for the company to sell the locations for over $1.3 million as it chips away at $42 million in debt, which caused it to enter its Chapter 11 filing in the U.S. Bankruptcy Court for the Northern District of Alabama last month, according to AL.com.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">So far, the company has buyers for six of its Food World stores in Alabama and Florida and the Piggly Wiggly store in Tifton, Ga.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Autry Greer &amp; Sons has offered $455,000 for the Mobile store. Autry Greer &amp; Sons is also offering $100,000 for the 4051 Barrancas Ave. Food World store in Pensacola, Fla.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Hometown Market of Morgan County Inc. has offered $100,000 for the Decatur store.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The other pending offers include:<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">• Mary Esther Foods LLC paying $250,000 for the 251 Mary Esther Cutoff Food World in Mary Esther, Fla.;<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">• Malloy Grocery paying $150,000 for the 8084 North Davis Highway Food World in Pensacola;<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">• Fisher Douglas LLC paying $150,000 for the 4320 Lillian Highway Food World in Pensacola; and<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">• CMM Properties Inc. paying $100,000 for the Piggly Wiggly in Tifton, Ga.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The grocer hopes to have all seven of the stores sold by Aug. 15th. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.al.com/business/index.ssf/2013/08/belle_foods_approved_to_sell_s.html" target="_new">Belle Foods Report </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">