business news in context, analysis with attitude

The Milwaukee Journal Sentinel reports that Fresh Brands Inc., which reported a quarterly loss of almost $5 million last week, plans to close a half-dozen stores.

"Although the news may sound bleak, I believe that it actually foretells a brighter future," the company's executive vice president and chief financial officer, John H. Dahly, said in a conference call. "We are hopefully putting behind us all the skeletons in our closet in one fell swoop."

Fresh Brands, which has been under intense competition from Wal-Mart, currently has 73 franchised and 29 company-owned supermarkets. While the specific stores to be closed have not been identified, the company said that five of them will be company-owned units, as management plans to focus more on wholesaling.
KC's View: