ALCO Store files for bankruptcy

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.



The operator of 198 stores in 23 states was founded in 1901 and sought to serve small underserved markets with a broad range of value priced merchandise.



The company and its subsidiary, ALCO Holdings, Limited Liability Company, filed voluntary petitions for relief in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code. The debtors expect to continue to operate their businesses as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.