Pro’s Ranch Markets Files for Bankruptcy
Pro’s Ranch Markets filed for voluntary reorganization under Chapter 11 of the US Bankruptcy Code.
Company officials hired HG Capital Partners to restructure the business and help preserve the jobs of more than 2,200 team members, according to Pro’s Ranch officials.
Revenues impacted by the lingering recession are behind the decision to reorganize. The company secured a $3 million loan commitment to continue operating as the company regains its financial footing.
The grocery chain has 11 stores dispersed throughout Arizona, New Mexico and Texas.