SAN JOSE — The supermarket chain that caters to the Latino immigrant community in California has filed for bankruptcy.
Mi Pueblo said Monday it would keep all 21 stores open as it reorganizes the chain, which began 22 years ago as a small San Jose butcher shop that has grown into a 3,260-employee corporation.
The grocer has a North Bay store in San Rafael.
A company lawyer told the San Jose Mercury News (http://bit.ly/134j6mN) the company is in a dispute with its primary lender, Wells Fargo.
Robert Harris said the bank wanted to change the terms of Mi Pueblo's loans after it became concerned about the company's debt to credit ratio and its forecast revenues.
Harris said the Chapter 11 bankruptcy protection filing will allow the firm to continue doing business while it sorts out its differences with Wells Fargo.
Information from: San Jose (Calif.) Mercury News, http://www.mercurynews.com