Bruno's Supermarkets Files for Bankruptcy

Birmingham, Ala. Bruno's Supermarkets is filing for Chapter 11 bankruptcy. The chain plans to continue operating without interruption.

The company also said that its CEO Kent Moore has resigned and is being replaced by Jim Grady, a senior director with corporate turnaround firm Alvarez & Marsal.

Bruno's said it has enough cash to pay its normal obligations. It is negotiating a financing package to improve its standing.

Bruno's Supermarkets operates 66 Bruno's and Food World stores in Alabama and the Florida Panhandle.