BELLINGHAM, WA - Among other current changes, Haggen is now reportedly down to one CEO.
Amidst a $1 billion lawsuit with Albertsons and a new Chapter 11 bankruptcy filing, the Seattle Times also reports that it has parted ways with Pacific Southwest CEO Bill Shaner.
Other than stating that Shaner is no longer with the company, and that his last official work day was last Thursday, according to what a Haggen Spokesperson told the Seattle Times, the company has not officially commented on the former CEO’s departure.
For now, it appears the company will retain only its current CEO of the Pacific Northwest Division John Clougher.
Shaner was hired in December of last year for the Pacific Southwest Division of Haggen as it anticipated a huge expansion into two new states when it acquired 146 stores from Albertsons.
As we previously reported, the retail chain has since filed bankruptcy, obtaining commitments for up to $215 million in debtor-in-possession (DIP) financing from existing lenders. In a press release announcing the move, as well as allegations listed in Haggen’s lawsuit filing, the chain claims that Albertsons failed to live up to good faith agreements that it would convert the locations in a timely manner, which “ultimately led to Haggen’s failure” and, eventually, the need for the Chapter 11 bankruptcy filing.
AndNowUKnow will continue to keep you up to date on this story as it develops further.
