AN IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI - 10-21-2020
WEDNESDAY, OCTOBER 21, 2020 KINGS BANKRUPTCY UPDATE President Niccollai reported today that the Rumor Mill is running wild again, with stories being issued by uninformed sources that are undermining the workforce and the integrity of the Company.  Let’s all take a few minutes, settle down and deal with the facts and not a Rumor Mill that’s always negative and hurtful. First, ACME is the successful bidder for 27 stores and seeks to enhance the reputation of Kings and grow the business.  (That’s very positive.) Second, ACME petitioned the FTC to keep open all the stores for which they...
AN IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI 10-15-2020
CONTRACT NEGOTIATIONS UPDATE   President Niccollai reported today that the Union Negotiating Committee met with the Companies’ Negotiating Committees for the fifth time in an attempt to hammer out a new Collective Bargaining Agreement.   Based on prior negotiating sessions and continuing conferences among the Union and Companies’ Professionals, we were presented with an initial proposal including wage increases.  President Niccollai foresees extremely serious problems relating to the restructuring of our Pension Plan from a Defined Benefit to a Defined Contribution Plan....
AN IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI - 10-13-2020
AN IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI - TUESDAY, OCTOBER 13, 2020 KINGS BANKRUPTCY UPDATE President Niccollai reported this evening, Tuesday, October 13, 2020, that ACME was the successful bidder at the auction conducted through the Bankruptcy court. The bid submitted by ACME was for almost the entire complement of locations presently operated by Kings.  There are several stores with lease or location problems that may or may not be resolved.  Obviously, the Union seeks jobs for everyone and we will do everything humanly possible to achieve that result. ...
AN IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI FRIDAY, OCTOBER 9, 2020
AN IMPORTANT MESSAGE FROM PRESIDENT JOHN T. NICCOLLAI FRIDAY, OCTOBER 9, 2020 KINGS BANKRUPTCY UPDATE    President Niccollai reported that today, Friday, October 9, 2020, was the deadline for the submission of bids concerning the sale of Kings Supermarkets through the Bankruptcy Court.  It is our understanding that in addition to the bid previously submitted by TLI, additional bids were submitted by other Supermarket Operators.  These additional bids will now cause a sale of the Company through an auction process which, in all likelihood, will take place next week. We...