Merisant Worldwide filed for Chapter 11 bankruptcy today, shortly after its credit rating was downgraded to junk status. Merisant produces Equal, the blue-packeted artificial sweetener, and other products. The privately-held company has not disclosed whether the filing will affect manufacturing or distribution.
food: January 2009 Archives
The occasional store closing by a large chain retailer is part of the normal course of business. Three big names announcing double-digit closings is not:
- Macy's is closing 11 stores in assorted locations around the country. The retailer calls this a normal adjustment but the move is getting significant press.
- Women's apparel chain New York & Co. is closing up to 50 locations over the next five years beginning in 2009.
- Grocery store Supervalu is closing 50 stores in 2009 alone. A brand of Albertson's, the chain closed 25 stores (which they consider normal) in 2008, so the '09 plans represent a doubling of the closures.
