By Canadian Press and Canadian Grocer | June 25, 2015

Co-op Atlantic is laying off 400 employees and closing four of its food stores in the region as it moves ahead with a restructuring plan that includes getting out of the food and retail gas businesses.

The company issued a statement Thursday that also said it has obtained an order from New Brunswick’s Court of Queen’s Bench to initiate proceedings under the Companies’ Creditors Arrangement Act.

http://www.canadiangrocer.com/top-stories/co-op-atlantic-files-for-bankruptcy-protection-55031