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KB US Holdings, which holds Baducci grocery chains and Kings food markets, has deposited for bankruptcy. Although grocery stores testify to an increase in sales during the pandemic, the brief increase was not sufficient to reverse the financial struggles of the company's years.

Before the pandemic, KB Holdings reported historically low earnings due to competition from the main national channels and national delivery services, as well as labor costs, according to the deposit of bankruptcy.

The two grocery chains jointly exploit 35 locations in New York, New Jersey, Connecticut, Virginia and Maryland. The gastronomic gastronomic grocer was founded in 1915 in New York and acquired by the 2009 parent company. The first location of Kings was opened in 1936 in the summit, NJ.

Although this does not write the end of the Balucci food markets and kings, this means that channels are about to undergo a change of property and potential store closures.

The company said that it had already received a $ 75 million in New York Tli Bedrock LLC, while waiting for other offers in a bidding sales supervised by the Tribunal. Although the sale is in progress, all grocery locations will remain open.

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