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Fleming Companies Inc

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BUSINESS
February 26, 2003 | From Bloomberg News
Fleming Cos., the largest U.S. grocery distributor, said Tuesday that it would cut 1,800 jobs and take a pretax charge of $290 million to terminate its contract to supply Kmart Corp. Fleming also said the Securities and Exchange Commission has formalized an investigation into the company's accounting. The news sent the Lewisville, Texas-based firm's shares down $1.12 to a record low of $1.85 on the New York Stock Exchange.
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BUSINESS
November 6, 2003 | From Reuters
Two major U.S. food companies may face civil charges from federal regulators on allegations that they helped food distributor Fleming Cos. inflate its revenue. Kraft Foods Inc., the largest North American food maker, and Dean Foods Co., the No. 1 U.S. dairy processor, said they had received notices from the Securities and Exchange Commission on the matter.
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BUSINESS
March 30, 1992 | From Times Staff and Wire Reports
Fleming to Close Grocery Distribution Center: A division of food giant Fleming Cos. is closing its Monroe, La., grocery distribution division, eliminating about 300 jobs, officials announced. The Monroe operation of Malone & Hyde Inc. will merge with existing grocery distribution centers in Lafayette, La., and Fort Worth. Some of the employees will be offered jobs at other locations.
BUSINESS
August 27, 2003 | From Associated Press
Grocery distributor Fleming Cos. has sold its core business to four firms instead of the single buyer that had been identified. Fleming said in a regulatory filing Monday that it sold wholesale-distribution facilities in California, Hawaii and Wisconsin to C&S Wholesale of Vermont; a plant in Garland, Texas, to Grocers Supply Co. of Houston; Miami operations to Associated Grocers of Florida; and facilities in the Midwest and Southeast to Associated Wholesale Grocers of Kansas City, Mo.
BUSINESS
May 19, 1992 | JILL BETTNER, SPECIAL TO THE TIMES
SilentRadio, a Chatsworth company whose moving electronic displays featuring news, entertainment and sports scores are in many post offices, banks and other businesses, is going into--what else--silent TV. Its new network, to broadcast both entertainment and commercials, would air first in supermarkets. In March, SilentRadio, the National Broadcasting Co., Fleming Cos., the nation's largest grocery wholesaler, and Site-Based Media Inc.
BUSINESS
April 3, 1999 | JOSEPH MENN, TIMES STAFF WRITER
A federal appeals court has ruled that, at least in Oklahoma, shareholders have the right to overrule company directors and revoke "poison pill" takeover defenses. The Denver-based 10th U.S. Circuit Court of Appeals last week found in favor of the International Brotherhood of Teamsters, which had sued national grocery distributor Fleming Cos. in order to put such a resolution before other shareholders.
BUSINESS
April 2, 2003 | From Bloomberg News
Fleming Cos., the biggest U.S. grocery distributor, sought Chapter 11 bankruptcy protection after Kmart Corp., its biggest customer, ended a supply contract and regulators investigated its accounting. Fleming, unable to replace $4.5 billion in lost revenue from Kmart, said it could not promise vendors that it would be able to continue to ship goods after running short of cash. The Kmart contract accounted for about 20% of Fleming's revenue. The company canceled the accord in January.
BUSINESS
November 15, 2002 | From Associated Press
Grocery wholesale giant Fleming Cos. said it is the subject of what it calls an informal Securities and Exchange Commission inquiry. The Lewisville, Texas-based grocery distributor said the SEC was looking into Fleming's accounting and sales reporting. The Wednesday disclosure came hours after Fleming announced it was selling 26 Food4Less stores in California and two still under construction to Save Mart Supermarkets for $165 million. Fleming shares fell 89 cents to $5.11 on the NYSE.
BUSINESS
March 5, 2003 | From Bloomberg News
Fleming Cos., the No. 1 U.S. grocery distributor, ousted Chairman and Chief Executive Mark Hansen a week after the company said it was the target of a Securities and Exchange Commission investigation. The board decided that a management change was necessary, a spokesman said. Directors Peter Willmott and Archie Dykes will run the company until a new CEO is hired, Fleming said. Shares of Lewisville, Texas-based Fleming fell 12 cents, or 5.7%, to $2 on the NYSE.
BUSINESS
April 2, 2003 | From Bloomberg News
Fleming Cos., the biggest U.S. grocery distributor, sought Chapter 11 bankruptcy protection after Kmart Corp., its biggest customer, ended a supply contract and regulators investigated its accounting. Fleming, unable to replace $4.5 billion in lost revenue from Kmart, said it could not promise vendors that it would be able to continue to ship goods after running short of cash. The Kmart contract accounted for about 20% of Fleming's revenue. The company canceled the accord in January.
BUSINESS
March 5, 2003 | From Bloomberg News
Fleming Cos., the No. 1 U.S. grocery distributor, ousted Chairman and Chief Executive Mark Hansen a week after the company said it was the target of a Securities and Exchange Commission investigation. The board decided that a management change was necessary, a spokesman said. Directors Peter Willmott and Archie Dykes will run the company until a new CEO is hired, Fleming said. Shares of Lewisville, Texas-based Fleming fell 12 cents, or 5.7%, to $2 on the NYSE.
BUSINESS
February 26, 2003 | From Bloomberg News
Fleming Cos., the largest U.S. grocery distributor, said Tuesday that it would cut 1,800 jobs and take a pretax charge of $290 million to terminate its contract to supply Kmart Corp. Fleming also said the Securities and Exchange Commission has formalized an investigation into the company's accounting. The news sent the Lewisville, Texas-based firm's shares down $1.12 to a record low of $1.85 on the New York Stock Exchange.
BUSINESS
November 15, 2002 | From Associated Press
Grocery wholesale giant Fleming Cos. said it is the subject of what it calls an informal Securities and Exchange Commission inquiry. The Lewisville, Texas-based grocery distributor said the SEC was looking into Fleming's accounting and sales reporting. The Wednesday disclosure came hours after Fleming announced it was selling 26 Food4Less stores in California and two still under construction to Save Mart Supermarkets for $165 million. Fleming shares fell 89 cents to $5.11 on the NYSE.
BUSINESS
November 9, 2002 | From Bloomberg News
Fleming Cos., the largest U.S. grocery distributor, is nearing an agreement to sell 28 of its California supermarkets to Save Mart Supermarkets for about $150 million in cash and long-term liabilities, according to sources familiar with the matter. Modesto-based Save Mart also agreed to make Fleming the primary supplier to the stores. Fleming is selling 110 Food 4 Less and Rainbow Foods supermarkets so it can invest more in its distribution business and reduce its $2.4 billion in debt.
BUSINESS
January 25, 2002 | LESLIE EARNEST, TIMES STAFF WRITER
Grocery supplier Fleming Cos. and some other vendors to Kmart Corp. said Thursday that they have resumed shipments, allowing the discount retailer to restock shelves as it begins rebuilding after seeking Bankruptcy Court protection earlier in the week. Fleming, Kmart's sole grocery supplier, said it has received assurances that it will be paid today the $76 million it is owed by Kmart. Other companies that began shipping again included soft drink maker PepsiCo Inc.
BUSINESS
November 6, 2003 | From Reuters
Two major U.S. food companies may face civil charges from federal regulators on allegations that they helped food distributor Fleming Cos. inflate its revenue. Kraft Foods Inc., the largest North American food maker, and Dean Foods Co., the No. 1 U.S. dairy processor, said they had received notices from the Securities and Exchange Commission on the matter.
BUSINESS
January 25, 2002 | LESLIE EARNEST, TIMES STAFF WRITER
Grocery supplier Fleming Cos. and some other vendors to Kmart Corp. said Thursday that they have resumed shipments, allowing the discount retailer to restock shelves as it begins rebuilding after seeking Bankruptcy Court protection earlier in the week. Fleming, Kmart's sole grocery supplier, said it has received assurances that it will be paid today the $76 million it is owed by Kmart. Other companies that began shipping again included soft drink maker PepsiCo Inc.
NEWS
January 22, 2002 | LESLIE EARNEST and LAURA LOH, TIMES STAFF WRITERS
Kmart Corp. edged closer to Bankruptcy Court on Monday after its sole supplier of groceries halted critical shipments to the nation's second-largest discount retailer. Fleming Cos. said it took the action because Kmart failed to pay about $70 million that was due Friday. Fleming's move could prompt other Kmart vendors to follow suit, and, analysts said, it sharply increases the likelihood that Kmart will file for bankruptcy protection.
BUSINESS
April 3, 1999 | JOSEPH MENN, TIMES STAFF WRITER
A federal appeals court has ruled that, at least in Oklahoma, shareholders have the right to overrule company directors and revoke "poison pill" takeover defenses. The Denver-based 10th U.S. Circuit Court of Appeals last week found in favor of the International Brotherhood of Teamsters, which had sued national grocery distributor Fleming Cos. in order to put such a resolution before other shareholders.
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