TrafficCourt

Supervalu Closing Stores

RSS

The struggling supermarket chain will be closing 60 stores around the country, primarily in its Albertsons and Save-A-Lot divisions.

A significant number of the Albertsons' slated for closing will be in Southern California, including in Long Beach, Glendale and Van Nuys. Stores in states including New Jersey, Pennsylvania, Maryland, Georgia, Illinois, Missouri, Indiana, Alabama, Oregon and Washington will also be affected.

According to Los Angeles Times:

The company said it would generate about $80 million to $90 million in cost savings over the next three years.

"These decisions are never easy because of the impact a store closure has on our team members, our customers, and our communities," Wayne Sales, Supervalu's chief executive, said in a statement.

Supervalu has recently been looking for a buyer and analysts have expressed concern that the vast differences between its many brands might present an obstacle to a sale.

Please or Register to post comments.

What's TrafficCourt?

Industry news, views and occasional strange stuff.

Contributors

Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
Blog Archive
National Real Estate Investor Related Sites

Sponsored Introduction Continue on to (or wait seconds) ×