A.G. Ferrari Foods Out of Bankruptcy

A.G. Ferrari Foods, the popular Italian foods importer with stores on Piedmont Avenue and in Montclair, is officially out of bankruptcy and expected to thrive going forward, according to Wednesday's San Francisco Chronicle.

A.G. Ferrari Foods and the Andronico's supermarket chain, both now owned by Renwood Opportunities Fund, emerged from bankrupcy Tuesday, according to this "Bottom Line" article on the Chronicle's website.

"We're excited that we've been able to get through this with the help of our customers and our great employees," Steven Taormina, Ferrari's director of retail operations, told Piedmont Patch.

Taormina said all nine existing stores, including the Piedmont Avenue and Montclair locations, will remain open.

"We expect to be around for the next 92 years," he said.

The Ferrari company filed Chapter 11 about six months ago, following the deaths of two of the original owners. It was acquired by a buyout firm for a reported $1.2 million.