Homeland emerges from reorganization as subsidiary

<br>OKLAHOMA CITY (AP) _ Homeland Stores has emerged from bankruptcy reorganization as a subsidiary of Associated Wholesale Grocers, officials said. <br><br>The U.S. Bankruptcy Court for the Western District

Tuesday, September 10th 2002, 12:00 am

By: News On 6

OKLAHOMA CITY (AP) _ Homeland Stores has emerged from bankruptcy reorganization as a subsidiary of Associated Wholesale Grocers, officials said.

The U.S. Bankruptcy Court for the Western District of Oklahoma approved the company's reorganization plan last week. Homeland came out reorganization at midnight Saturday with the transfer of assets, including 43 stores in Oklahoma, which form the new company.

``We are excited about the opportunity to revitalize Homeland into a viable player at the local level in the communities and neighborhoods we serve,'' Larry Willis, newly appointed president and CEO of the new Homeland, said Monday.

Willis formerly headed a 26-store independent retail grocery operation, Ramey/Price Cutter, based in Springfield, Mo.

AWG, one of the nation's largest independent grocery wholesalers, was Homeland's key supplier of groceries before and after Homeland sought reorganization in August 2001.

Associated Wholesale Grocers supplies more than 70 percent of the products sold in Homeland stores.

``The established partnership and familiarity with Homeland's operation and markets allows us to move in a smart and swift manner on the retail level to infuse new strategic promotional, product and pricing initiatives to focus on the local market place,'' Willis said.

Stores will continue to operate under the name, Homeland. The new Homeland AWG subsidiary will keep its headquarters in Oklahoma City, Willis said.

A majority of the associates at the store level also will be kept, officials said.

``While we enjoy a strong nucleus of dedicated associates who we believe can help achieve our goals and implement our vision, we will hire future associates who embrace our customer-focus approach and can deliver it,'' Willis said.

Plans also call for remodeling some stores in the coming weeks.