Carter's Foods
Encyclopedia
Carter's Foods, more commonly known as Carter's, was an employee-owned supermarket
chain based in Charlotte, Michigan
, United States
. Founded in 1952, Carter's grew to over 30 stores throughout Michigan's Lower Peninsula, including two in Charlotte. In 2006, the chain declared bankruptcy, with its remaining stores being closed or sold. Until the chain's demise, Carter's Foods was the only grocery chain in Michigan to be entirely owned by its employees.
store in his hometown. Carter's expanded over several decades, mainly by acquiring IGA
store. IGA also was the primary supplier for Carter's.
In 1999, Sperry and Hutchinson, a company known for its S&H Green Stamps
, introduced an updated rewards program, S&H Greenpoints; Carter's was the first chain in Michigan to utilize Greenpoints. In 2000, Carter's Foods became 100 percent employee-owned, becoming the only supermarket chain in Michigan to be employee-owned.
Citing competition from Wal-Mart
and regional supercenter chain Meijer
, Carter's filed for Chapter 7
bankruptcy
in 2006, after it was unable to pay several million dollars in debts to its suppliers. The last Carter's stores closed in mid-2006. Several were reverted to IGA or sold to Spartan Stores
, while the remainder were shuttered.
Supermarket
A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...
chain based in Charlotte, Michigan
Charlotte, Michigan
Charlotte is a city in the U.S. state of Michigan. As of the 2010 census, the city population was 9,074. It is the county seat of Eaton County....
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Founded in 1952, Carter's grew to over 30 stores throughout Michigan's Lower Peninsula, including two in Charlotte. In 2006, the chain declared bankruptcy, with its remaining stores being closed or sold. Until the chain's demise, Carter's Foods was the only grocery chain in Michigan to be entirely owned by its employees.
History
Carter's Foods was founded in 1952 by Theodore Carter. A native of Charlotte, Michigan, Theodore had been an employee of the KrogerKroger
The Kroger Co. is an American supermarket chain founded by Bernard Kroger in 1883 in Cincinnati, Ohio. It reported US$ 76.7 billion in sales during fiscal year 2009. It is the country's largest grocery store chain and its second-largest grocery retailer by volume and second-place general retailer...
store in his hometown. Carter's expanded over several decades, mainly by acquiring IGA
IGA (supermarkets)
IGA is a brand of grocery stores active in more than 30 countries. Contrasting with the chain store business model, IGA operates as a franchise through stores that are owned separately from the brand. Many of these stores operate in small town markets and belong to families that manage them...
store. IGA also was the primary supplier for Carter's.
In 1999, Sperry and Hutchinson, a company known for its S&H Green Stamps
S&H Green Stamps
S&H Green Stamps were trading stamps popular in the United States from the 1930s until the late 1980s. They were distributed as part of a rewards program operated by the Sperry and Hutchinson company , founded in 1896 by Thomas Sperry and Shelly Hutchinson...
, introduced an updated rewards program, S&H Greenpoints; Carter's was the first chain in Michigan to utilize Greenpoints. In 2000, Carter's Foods became 100 percent employee-owned, becoming the only supermarket chain in Michigan to be employee-owned.
Citing competition from Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
and regional supercenter chain Meijer
Meijer
Meijer, Inc. is a regional American hypermarket chain based in Grand Rapids, Michigan. Founded in 1934 as a supermarket chain, Meijer is credited with pioneering the modern supercenter concept in 1962. About half of the company's 196 stores are located in Michigan, with additional locations in...
, Carter's filed for Chapter 7
Chapter 7, Title 11, United States Code
Chapter 7 of the Title 11 of the United States Code governs the process of liquidation under the bankruptcy laws of the United States...
bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
in 2006, after it was unable to pay several million dollars in debts to its suppliers. The last Carter's stores closed in mid-2006. Several were reverted to IGA or sold to Spartan Stores
Spartan Stores
Spartan Stores Inc. is an American food distributor and grocery store chain headquartered in Byron Township, Michigan. The company distributes national and Spartan brand products to over 400 independent grocery stores in Michigan, Indiana and Ohio.-History:...
, while the remainder were shuttered.