Cooper-Booth Wholesale Files Reorganization Plan
C-store distributor expects to emerge from Chapter 11 bankruptcy in second quarter
MOUNTVILLE, Pa. -- Cooper-Booth Wholesale Co., a major convenience store distributor, has filed its plan of reorganization with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania.
The plan provides for Mountville, Pa.-based Cooper-Booth Wholesale to emerge from Chapter 11 in the second quarter of this year.
Confirmation of the plan will allow Cooper-Booth Wholesale to resume its position as a leader in the convenience product distribution industry, said the company. Cooper-Booth Wholesale will continue to grow its business through strong relationships with its customers, suppliers and dedicated staff, it said.
The plan also provides for a new senior credit facility, which will provide the exit financing required to allow Cooper-Booth Wholesale to emerge from Chapter 11 and pay its creditors in full.
The Bankruptcy Court has scheduled a hearing on the Cooper-Booth disclosure statement in connection with the Plan for April 9, 2014.
Cooper-Booth Wholesale has been in the wholesale distribution business since 1865 when the Booth Tobacco Co. was incorporated in Lancaster, Pa. The company continued to grow with the acquisition of Cooper Tobacco and a number of other distributors over the years. Family owned and operated for three generations, it is now a full-line, full-service wholesale distributor serving retailers in the Mid-Atlantic region. Its full line consists of more than 10,000 items representing 95% of a c-store’s needs. Its services and programs currently available include scheduled store visits, merchandising, shelf labels, electronic order entry processing, accrual programs and more.