Final arguments in Bashas' bankruptcy case MondayPosted: Updated:
PHOENIX -- Lawyers for Arizona grocer Bashas' Inc. will have a final chance on Monday to convince a bankruptcy court judge to approve the chain's plan to emerge from bankruptcy protection.
Judge James Marlar is set to hear closing arguments Monday morning in Tucson and could issue a ruling right away, but it will probably come later in the week.
A group of banks and bondholders holding roughly $200 million in secured debt oppose Bashas' plan. They argue the grocer may not be able repay its creditors.
Bashas' plan is supported by its unsecured creditors, primarily suppliers.
The Chandler-based company has 130 markets across the state and has been operating under Chapter 11 bankruptcy protection since July 2009. The company also has one store each in New Mexico and California.
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