Grocery chain Seasons Kosher Supermarkets has filed a petition under the Chapter 11 of the bankruptcy code to reorganise the company.
The company is currently considering options to emerge from the Chapter 11 filing with a stronger balance sheet and to fully restore operations.
Seasons Kosher Supermarkets CEO Mayer Gold said: “There is nothing we love more than providing Seasons’ family with the warmest Kosher shopping experience, and we look forward to refocusing on that singular goal.”
The supermarket chain has also secured a $6m commitment in private funding to restock its shelves, fulfil current vendor obligations, as well as continue its business during the restructuring process.
The company is estimating a short reorganisation process noting that several parties have showed interest to invest in the business.
Established in 2011, Kosher Supermarkets offers a range of gourmet foods such as grocery and gourmet food, meat, fish, deli, bakery, fruits, vegetables, dairy, yogurt, cheese, ice cream, and baking needs to customers under the Kosher brand.
The company operates offline stores in the US, as well as an online store.
It offers delivery services to selected locations, including Bayside, Briarwood, East Meadow, Forest Hills, Fresh Meadows, Glen Oaks, Great Neck, Hollis Hills, and Jamaica Estates. It also delivers to Kew Gardens, Kew Gardens Hills, Little Neck, New Hyde Park, Rego Park, Richmond Hill, and Roslyn from its Seasons Queens store.