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Food & Beverage

Thai-owned luxury grocer Dean & DeLuca files for US bankruptcy

American chain seeks protection from creditors as its Asia business charts own path

A Whole Foods Market in New York. American grocers like Dean & DeLuca have been squeezed in recent years by bigger rivals such as Whole Foods Market, owned by, and Trader Joe's.    © Reuters

NEW YORK -- Thai-owned luxury grocer and cafe Dean & DeLuca has filed for bankruptcy in the U.S., after the parent company's failed attempts to revive the chain amid growing competition in its native market.

The bankruptcy petition, filed in a New York court Tuesday and signed by Sorapoj Techakraisri, chief executive of Thai real estate group Pace Development, shows Dean & DeLuca has under $50 million in assets, while facing $275 million in debt, as shown in other court documents.

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