Dive Summary:

• Last week, Kansas City, Kan.-based AWG announced it filed a "stalking horse bid" to acquire outside bid offers for the acquisition of 43 Belle Foods stores.
• The auction follows a July 1 filing for bankruptcy protection for the Belle Foods stores and ended on Tuesday. The lone bidder for the properties was Associated Wholesale Grocers.
• The proposed purchase agreement reached a minimum offer of $16.1 million for the supermarket chain. It will now be up to a U.S. Bankruptcy Court judge in Alabama to accept or reject AWG's bid by Friday.

From the article:

To ensure that offers from other bidders are at a level C&S would find acceptable, the stalking horse bid indicates other bidders must offer at least $700,000 more initially, with subsequent bids rising in increments of at least $100,000. According to the filing, AWG said it would close 13 stores, with a group of buyers lined up to operate the remaining 30. ...