Liborio Markets is an example of the great American dream. Forty six years ago, Enrique J. Alejo, founder of Liborio Markets, had a dream.
In February of 1966, Mr. Alejo leased a small shop on 9th St. and Vermont, in the city of Los Angeles, and began a small “Carniceria” or meat market, providing fresh meat and products “Just like home”, to the ever growing Hispanic community of Los Angeles.
The Alejo family has invested 46 years of extreme sacrifice and hard work to finally succeed in establishing one of the most successful chains of Latin markets in California, Nevada, and Colorado. A total of 13 markets were established.
Like other businesses in the U.S., Liborio Market was hit hard by the ever increasing financial turmoil in our country. Liborio Markets valiantly tried to ride the wave of a bad economy but ultimately was forces to file for bankruptcy protection in April of this year.
Banco Popular has been Liborio’s primary bank for many years. Banco Popular is not supporting the reorganization of the business and in fact has spearheaded the closure of 10 stores through liquidation. The liquidation will result in partial payments to the bank and few other priority creditors leaving many others with nothing and hundreds of people out of work. As a large bank, Banco Popular has the resources to assist with a reorganization of a nearly 50 year old admired and respected Hispanic business but has chosen instead to shut it down.
I ask myself why? The community benefits from having these markets open, keeping jobs available. This is what California needs.
I write this petition asking you to join me in asking Banco Popular to give Liborio Markets the “realistic” time they need to return to profitability. The given, one month is not enough time.
These markets should remain open and serving the community. Closing their doors will only hurt the community and liquidation of assets will negatively impact unsecured creditors and vendors. No one benefits from closing the existing 3 markets but the Banco Popular.
Liborio Markets and its founders have strong international and domestic ties to the Hispanic community. Liborio Markets is known for their great acts of charity and for “giving back to the community.” They have been instrumental in assisting the Hispanic community with countless efforts such as:
• The Telethon of Mexico: For years, Liborio Markets has raised more than $600,000.00 to assist Mexico’s disabled children.
• The Telethon “Funter” of El Salvador, as with the one in Mexico, was provided with more than a quarter of million dollars to assist with their disabled children.
• The Telethon “Funda Bien” of Guatemala was also assisted for more than five years in the same manner.
• Liborio Markets has worked very closely with the “COMITE SALVADORENO/EL PICHE since their very beginning. Consequently, there are now 3 working clinics and one in construction, which are named “Clinica Medica, Enrique Alejo". These clinics were constructed and supplied with funds raised by Liborio Markets and the “Comite El Piche”.
• During “Hurricane Mitch” one of the first businesses to respond to the need of the people in Nicaragua, Honduras, Guatemala, and El Salvador was Liborio Markets. They were responsible for organizing and collecting 24, (44 foot) containers filled with emergency medicines, food, and clothing for the victims of this natural disaster. Mr. Alejo contacted Governor Pete Wilson and asked for his assistance in finding a way to deliver the containers to the affected areas. This resulted in Governor Wilson ordering the U.S. National Guard to fly emergency supplies to the affected countries. There have been many other incidents were Mr. Alejo and Liborio Markts have served the Hispanic community in good times and in bad.
Now is the time to support Liborio Market and Mr. Alejo in their hour of need. By signing my petition you will emphasize the importance of this matter to Banco Popular. Liborio Markets deserves time to reorganize and continue serving the community. There is no doubt that Liborio Markets can be successful once again.
Thank you. Please sign this petition if you agree with me, and pass it along via e-mail and face-book to as many of your friends and neighbors as you can. Time is of the essence as the Bankruptcy courts are scheduled to hear this case next week, July 24, 20012.