Andronico's Markets files for bankruptcy

August 22, 2011 10:40:25 PM PDT
Family-owned supermarket chain Andronico's Markets has filed for bankruptcy.

The San Francisco-based grocer is considering a sale to private investors.

Andronico's owners blame the stores' money problems on aggressive expansion and the economic downturn. Andronico's has seven stores in the Bay Area.

A spokesman says there are no immediate plans to close stores or layoff employees. The sale is expected to be completed within three months.