BATON ROUGE, La (The Advocate) — The parent company of Shoppers Value grocery store chain across south Louisiana have filed for Chapter 11 bankruptcy protection and reorganization.
The Advocate is reporting the initial court filings were made in mid-November, with additional stores within in the chain joining the bankruptcy proceedings this week.
Shoppers Value's business model is touted as a 10% retail mark-up at the register on top of the wholesale price it pays for products, according to its website.
The parent company of Shopper's Value owns and operates 12 grocery stores - more than half of which are in Baton Rouge - and one Food Depot in Bogalusa. It employs more than 600 workers across the Baton Rouge metro area, Lafayette, Bogalusa and Jefferson, records show.