C&K expects to emerge from Chapter 11 in summer
Progressive Grocer
Jun 3, 2014
C&K Market, Brookings, Ore., said Tuesday it expects to emerge from bankruptcy sometime this summer following a hearing scheduled for June 25 to confirm its exit plan.
C&K also said it has promoted Karl V. Wissman to president and hired David D. Doty as its new CFO.
Wissman succeeds Greg Sandeno, who resigned in late January. Wissman joined C&K in February as COO after serving as president and CEO of Star Markets, Honolulu, from 2002 until 2012 and holding a variety of management positions with Ralphs Grocery Co. in Northern California and Alpha Beta Co. in Southern California.
Doty succeeds Elizabeth Bauer. He was formerly CFO for Star Markets and was most recently CFO for Meadow Valley Corp., Phoenix, a highway construction firm.
C&K, which operates stores in Oregon and Northern California, filed a voluntary petition for Chapter 11 bankruptcy protection in late November after closing 15 stores and selling 15 freestanding pharmacies..
“Entering Chapter 11 was a difficult decision for our family,” said Doug Nidiffer, chairman of the 45-store chain. “As we prepare to emerge, we know we made the right decision.” He said he expects Wissman’s “proven leadership and vision will guide this company into a bright future.”
Wissman said he’s been impressed with the commitment of the company’s employees to customers and the communities the chain serves. “My excitement about the opportunity to grow this independent chain is even stronger than on my first day on the job,” he noted. “We’re poised for success.”
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