Albuquerque Journal (Albuquerque, NM)

Furrs Execs To Bag Big Bonus Bucks.

Byline: Diane Velasco Journal Staff Writer

Chairman's Goal Is Finding Buyer

Furrs Supermarkets Inc. plans to pay its top executives hundreds of thousands of dollars in salary and bonuses as they attempt to steer the company out of federal bankruptcy-court protection.

The main goal is to sell the grocery chain, according to the new board chairman, George Golleher.

In that case, some executives, including Golleher, could receive more than $1 million, according to recent filings in U.S. Bankruptcy Court.

The filings also call for 11 top executives to share a success bonus plan between $1.6 million and $6 million. In addition, the filings include a $1.89 million retention plan and a severance plan of $6.8 million.

Furrs is the state's 10th-largest private employer, according to a list compiled by Research & Polling Inc. …

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