Jasper, Ind., Buehler Foods Inc. has filed for bankruptcy protection at the U.S. Bankruptcy Court in Evansville, Ind. The company has been hit with revenue losses of more than $7 million due to unexpected delays in assuming control of 16 Winn-Dixie grocery stores it bought last year, according to reports.
The company owes between $50 and $200 million to more than 200 creditors, according to its bankruptcy petition. Buehler Foods, which owns more than 60 grocery stores in five states under the Buehler’s Market and Buy-Low banners, will continue to operate its stores as it reorganizes. Company CEO David Buehler said he expects the debt restructuring to be completed by the end of the year, reports say.