Seasons Kosher Supermarkets, which filed for bankruptcy Sept. 16, has obtained a commitment for up to $6 million in private funding, according to a news release.
Seasons will be able to fully stock its shelves, fulfill current vendor obligations and continue to operate normally during the restructuring period, the release said. Seasons has stores in New York, New Jersey and Baltimore.
“There is nothing we love more than providing Seasons’ family with the warmest kosher shopping experience and we look forward to refocusing on that singular goal,” said Seasons CEO Mayer Gold in the news release.
The voluntary filing of a petition for reorganization under Chapter 11 of the Bankruptcy Code was necessary to preserve and strengthen its ability to serve its customers.
According to the news release, several parties already are interested in investing in the company and a relatively short reorganization process and bright future are expected.
The impact of the bankruptcy filing on a new local store, which is under construction at Oakwood Commons in South Euclid, is unknown.
The planned South Euclid store is referred to in the documents as “the Cleveland Store.” The only mention of the store of substance in the filing said an LLC was formed to operate the store. “However, the necessary interior improvements have not yet been made at the Cleveland Store and the opening is substantially delayed,” the filing noted.
The store has been in the works since at least April 2016, according to previous reports by the Cleveland Jewish News. At the time, Gold said he expected the store to be open within a year. Seasons received a building permit from the city in May 2017 and at the time, it was expected that the store would open by fall 2017.