C&K Market CEO to leave as more are laid off
Greg Sandeno, president and chief executive officer of troubled C&K Market Inc., will leave the company at the end of the month.
The Brookings-based parent company of Ray's Food Place and other grocery stores in Oregon and Northern California filed for Chapter 11 court protection Nov. 19 and has since sold off its pharmacies and closed or sold 15 stores.
C&K Market said Friday that Sandeno had agreed to assist the company through its bankruptcy process and will remain on for a few additional months in a consulting role as the company finalizes its restructuring plan.
The company said day-to-day operations will be handled by Edward Hostmann, its chief restructuring officer, and Rocky Campbell, operations vice president, until a new CEO is named.
Earlier this week, C&K Market Inc., announced it was laying off more than 45 employees from its Brookings headquarters and Medford training center, which it opened last year. The layoffs are in addition to those related to store closures.
"Entering Chapter 11 was a difficult decision for our family," said Doug Nidiffer, chairman of the board and son of cofounder Ray Nidiffer, in a statement. "These layoffs are particularly difficult, as many of these employees have worked for our company for many years. We appreciate their dedication and hard work and are saddened that we have to lay them off. We are making good progress and will emerge from bankruptcy this year as a stronger company."
C&K said it was not planning additional layoffs.
As financial clouds heightened last year, C&K began shedding some of its holdings and shuttering others, including those in Smith River, Calif., and Crescent City, Calif.
When it filed for bankruptcy, C&K Market said Shop Smart on Crater Lake Highway in White City, Ray's Food Place stores on Seventh Street and Williams Highway in Grants Pass, and another store in Murphy were on the disposition list.
The Phoenix Ray's was originally on the list, but the company later reversed its decision.
Reach reporter Greg Stiles at 541-776-4463 or firstname.lastname@example.org. Follow him on Twitter @GregMTBusiness, friend him on Facebook and read his blog at www.mailtribune.com/Economic Edge.