It’s a great day, really

After 75 years, lights out for Bruno’s Supermarkets – Business News from The Birmingham News – al.com

Bruno’s is getting auctioned off in bits and pieces today. Unless someone buys the whole chain — which is extremely doubtful — the best case scenario is that someone like Kroger’s buys a lot of the stores and keeps them open. But many stores are certain to close, especially in already hard-hit poor areas. Let’s congratulate the people responsible:

  • The Bruno family, whose pursuit of a quick buck destroyed Joe Bruno’s legacy.
  • Kohlberg Kravis Roberts, who began the process of stripping the chain for parts, allowed stores to deteriorate, and saddled it with debt, driving it into bankruptcy the first time.
  • Ahold, the Dutch company that took over from KKR and did basically the same stuff for a few years.
  • Lone Star Funds, the current owners, who have apparently stripped whatever KKR and Ahold couldn’t get from the carcass, and which has allowed the stores to deteriorate to such a degree that some of them are actually scary to enter.
  • The employees, who are about as happy to work there as you’d expect, and who have refused to allow the union to make any further concessions to keep the stores open.
  • The bankruptcy court, which is allowing the management to pay out $40 million in bonuses to poor, abused executives of the company.

And, okay, Wal-Mart and Publix. Still…

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4 responses to “It’s a great day, really

  1. “…allowed the stores to deteriorate to such a degree that some of them are actually scary to enter.”

    Hm. ‘Hauntingly depressing’ I’ve seen, but ‘scary’ is new. Which ones are scary? You mean scary like you’re scared a neglected “Eggs & Dairy” sign is going to fall on you?

  2. Scary as in “There are rats and places where the lights are dim and on the way out you might get mugged in the parking lot.”

  3. e. nonee moose

    It’s official, all the Bruno’s in Montgomery are closing. Would have been nice if another chain had bought the store near my house as it’s extremely convenient to shop there. And our Bruno’s wasn’t that run down either… the bathrooms could have used a new coat of paint but the store as a whole always looked clean and bright to me. Very friendly staff there, too. Hate to see them lose their jobs.

  4. Pingback: The slow demise of Bruno’s continues « Thomason Tracts

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