Just last Friday I was in the Castro when I got a jonesing for a sandwich and got my fix at fav Castro Street staple A.G. Ferrari foods. But now sad news comes that the San Leandro-based company has filed for bankruptcy.
The “good news” is that so far the company (founded almost a 100 years ago!) has only closed its North Berkeley store on Solano Avenue while its other 12 locations are still open. CEO Paul Ferrari told the Oakland Tribune that, “Filing Chapter 11 will improve our cash flow and allow us to stabilize the business,” Paul Ferrari said. The court filing, he added, “will help secure a strong future for the company.”
The company has 3 stores in San Francisco and cites some of its biggest competition from large-scale box retailers like Whole Foods.
According to the Tribune, “Ferrari Foods was founded in 1919 by Annibale Giovanni Ferrari, who was born in a small town in northern Italy. In 1919, Annibale Ferrari opened a specialty food store that was modeled after the family’s store in Italy. The pastas, sauces, olive oils, vinegars and other offerings at the Ferrari markets are chosen to represent items from all 20 of Italy’s food regions.”
For more, go here.