The receiver, James C. Ebbert of Aurora Management Partners Inc., Rockland, ME, is empowered to manage the bank's property, protect the bank's interests "and to conduct an orderly shutdown of business operations until a sale or other disposition," the court document says.
AGM has been in financial trouble for at least three years. More than 300 stores in Maine, New Hampshire, Vermont and Massachusetts are affected.
In a statement issued by Ebbert last week, AGM's last delivery of cigarettes and tobacco was on April 28. He said that Pine State Trading Co. is willing to supply AGM's customers with cigarettes, tobacco, candy and other items.
U.S. Foodservice Acquires
Ritter Food Service
U.S. Foodservice has purchased Ritter Food Service, a division of The Pennfield Corp. Ritter, based in Mount Joy, PA, is a specialty distributor of high quality poultry, meats and seafood, including the Pennfield Farms brand.
Ritter serves more than 1,000 customers which include local retailers and restaurants in Pennsylvania, Maryland and New Jersey. Ritter's operations will become part of the U.S. Foodservice Allentown, PA, division.
"We look forward to welcoming Ritter customers to U.S. Foodservice," says Jeff Baldasano, division president, U.S. Foodservice-Allentown. "This acquisition gives our customers access to Ritter's broad selection of high-quality poultry, beef, pork, fresh and frozen seafood. As important, Ritter customers now have access to more than 40,000 national brand products and U.S. Foodservice's own high-quality private label items, along with other food-related items."
Mike Horn, Pennfield president and CEO, says, "We are grateful for our customers' trust over these past years and confident that U.S. Foodservice will continue providing high-quality products and services."