| Business Summary | | The
Grand
Union
Company
is
engaged
in
the
retail
food
business.
The
Company,
as
of
December
2000,
operated
197
stores
in
Connecticut,
New
Jersey,
New
York,
Pennsylvania
and
Vermont.
Grand
Union's
store
sizes
and
formats
vary
depending
upon
the
demographics,
competitive
conditions
and
real
estate
availability
in
each
location
in
which
it
operates.
The
Company's
supermarkets
offer
national
brand
and
private
label
grocery
and
general
merchandise
products
as
well
as
high-quality
perishables
and
service
departments.
The
majority
of
Grand
Union's
sales
are
generated
from
stores
that
include
high-margin
specialty
and
service
departments.
Selected
locations
feature
in-store
cafes
and
pharmacies.
Liquor,
beer
and
wine
departments
are
included
in
many
locations,
subject
to
the
limitations
of
state
and
local
laws.
In
March
2001,
the
Company
completed
the
sale
of
all
of
its
assets
and
business
to
GU
Markets,
LLC,
an
affiliate
of
C&S
Wholesale
Grocers,
Inc.,
and
other
third
party
purchasers. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | The
Grand
Union
Co.
is
engaged
in
the
retail
food
business.
The
Company
operates
197
stores
in
six
northeastern
states.
For
the
28
weeks
ended
10/14/00,
revenues
fell
7%
to
$1.11
billion.
Net
loss
before
accounting
change
totaled
$230.5
million,
up
from
$68.5
million.
Revenues
reflect
competitive
markets
and
effects
of
liquidity
constraints.
Net
loss
reflects
decreased
advertising
and
promotional
income
and
increased
borrowings
under
Credit
Facility. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| Stephen Peck, 65 Chairman | -- | Jeffrey Freimark, 45 Pres,
CEO, Chief Financial Officer, Treasurer, CAO, Director | $471K | Manouchehr Moslemi, 55 Sr.
VP, CIO | 274K | Glenn Smith, 36 Sr.
VP, Gen. Counsel, Sec. | 168K | Richard Skelly, Jr., 40 VP-Fin.,
Assistant Treasurer | -- | Dollar amounts are as of 1-Apr-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|