food: December 2008 Archives

Safeway is investigating new locations and plans to open 36 stores in 2009, taking advantage of the depressed real estate market. CEO Steve Burd cites "extraordinary opportunities" for aggressive buyers right now.

Similarly, Aldi is expanding in the Dallas-Ft. Worth area. The discount grocer is adding as many as 25 new doors in the next 18 months, spurred on by strong sales as consumers look for bargains.

And Tops Markets is growing by up to 10 stores in upstate New York while investing $150 in capital improvements to existing locations.

Poultry producer Pilgrim's Pride filed for Chapter 11 bankruptcy today in a move widely expected by financial analysts. Pilgrim's Pride has suffered a double-whammy of increased costs (for feed) and reduced demand from restaurants, which has thrown off the company's supply curve.

Pilgrim's Pride has already secured temporary financing and plans to continue operations while restructuring.