Dive Summary:

• Despite filing for bankruptcy, the family–owned retailer has promised that the store will emerge from this process as a stronger company.
•  Big M Inc. had strategically began to cut expenses, refinance debts, and closed underperforming stores prior to Sandy and was headed towards a more profitable path.
• The company is stating that reduced business and lack of insurance payments are leaving the company without the needed cash flow to effectively operate.

From the article:

“…Big M Inc., of Totowa, N.J., filed the petition in U.S. Bankruptcy Court in New Jersey. It said in an emailed statement it intends to continue to operate its stores and expects to "emerge as a stronger company."
Court papers, however, state that the company "intends to consider all strategic options to maximize the value of its business and properties," language often seen as an indicator that a sale of the business is possible…”