According to KSWT, "Arizona grocer Bashas' Inc. is seeking court approval of a plan to reorganize and repay its debts over the objections of its largest creditors." The company has been running with bankruptcy protection under Chapter 11 for a year now. 

Basha has about 125 stores throughout the state of Arizona. Their creditors are opposed to the reorganization plan, which proposes to use its $104 million in cash to pay off some of its $300 million in debt. Creditors do not think the company is financially sound. According to them, a plan like this could sink the grocery chain before it gets to pay the debt.

If you or someone you know is facing Chapter 11 Bankruptcy, contact the experienced Arizona Chapter 11 Bankruptcy Lawyers at the Harmon Law Office, LLC, by dialing 1-877-829-0494.