|Bella's market to sell Wray store|
|Written by Holyoke Enterprise|
On Thursday, May 2, VM Odells LLC, the owner of the Bella’s Market operating in Wray, filed in Federal Court to sell the Wray store to NECO Grocery LLC, a grocery operator with a store in Holyoke and an affiliate store in Imperial, Neb. The sale must be approved by the bankruptcy court in order to be executed.
On Sept. 24, VM Odells, owner of grocery stores in Akron, Wray, Haxtun, Wiggins, Walden and St. Francis, Kan., voluntarily entered Chapter 11 protective bankruptcy proceedings in Federal Court in Denver. VM Odells LLC is a subsidiary of Village Markets Holdings LTD. The parent company did not file for bankruptcy protection.
Kenny Owens, NECO Grocery vice president, commented, “We are excited about the opportunity to purchase and operate the store in Wray. We will restock the store immediately after we take ownership and look forward to strong community support.”
Brad Moline, NECO president, further commented, “I’ve known Sam Mancini, the president of Bella’s Market for quite a while. It is unfortunate that they have had the challenges they have; however, I’m sure they will work through it and get back to operating their other stores very well.”
As for employees, Owens commented that they plan to rehire all employees and to change the name of the store to the Wray Market.
The sale could be consummated within 30 days; however, both the timing and the authorization is up to the court’s discretion. All parties expect the sale to proceed with few obstacles.
Holyoke Enterprise May 16, 2013