It was only a few months ago that Affiliated Foods Southwest Inc. of Little Rock had its bankruptcy converted from Chapter 11 reorganization to Chapter 7 liquidation.
Now a related company, Supermarket Investors Inc. of Little Rock, has joined Affiliated in Bankruptcy Court.
Supermarket Investors is a wholly owned subsidiary of Shur-Valu Stamps Inc. And Shur-Valu, which also is in Chapter 7 along with several other Affiliated entities, is a subsidiary of Affiliated Foods. The Supermarket Investors filing last week didn’t offer many details, but it did offer a hint of the troubles.
There are between 200 and 999 creditors that are owed between $10 million and $50 million.
And the company’s assets are less than $50,000.
M. Randy Rice of Little Rock was appointed trustee for the company and filed the bankruptcy.
Rice said it’s too early to figure out what went wrong with Supermarket Investors. But a more detailed bankruptcy filing is expected soon.