Former Texas Liquor Store Giant cut Down to Size

In a legal document filed Friday, Dallas-based Centennial Beverage Group, owners of Centennial Fine Wine & Spirits, Big Daddy's and Majestic liquor chains, requested the courts approve the sale of another round of stores and assets. Recall in December Centennial petitioned for voluntary relief under Chapter 11 Bankruptcy due to increased competition from aggressive new chains like BevMo, Total Wine & More and Trader Joe's. As a result of both pre- and post-petition asset sales, Centennial only operates 10 retail stores ("Remaining Stores") currently.

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