(WDBJ7)-- North Carolina-based grocer Earth Fare has filed for Chapter 11 bankruptcy reorganization protection, according to the Charlotte Observer.
A copy of the filing is attached to this story.
WDBJ7 reported Monday that the supermarket chain had announced plans to close all 50 of its stores citing "continued challenges in the retail industry impeded the company's progress as well as its ability to refinance its debt."
The organic and natural food store line listed assets and liabilities of $100 million to $500 million.
The filing points to the forming of a restructuring committee in November meant to "explore and evaluate the company’s potential strategic alternatives, including the company’s restructuring, reorganization or sale."
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