C&S Wholesale, the biggest creditor of ailing US supermarket chain Grand Union, has emerged victorious in the New York City bankruptcy court auction to secure the assets of the chain. C&S's $301.8m bid for the majority of the New Jersey based grocer's 197 stores plus a distribution centre in Montgomery held up against a series of rival bids for smaller portions of the Grand Union estate from US grocers including Albertson's, Supervalu and A&P. Sainsbury's US subsidiary Shaw's picked up 18 stores (see this page). In October C&S signed a letter of intent to buy "substantially all the company's assets and business" for $300m. But a late surge of interest in the chain drove up the purchase price, plunging the deal with C&S into uncertainty. The deal needs bankruptcy court and regulatory approval. {{NEWS }}