BELLINGHAM, WA - It looks like it may all come full circle for Haggen in the end. The recently bankrupt retailer’s union says that government regulators have already given approval to a potential deal where Albertsons would purchase the remaining 33 core Haggen stores.
While Haggen has yet to comment on the potential transaction itself, the United Food and Commercial Workers (UFCW) International Local 367 issued a written statement claiming the Federal Trade Commission (FTC) has approved a potential acquisition of the core stores. UFCW Local 367 reports that Albertsons and Haggen are currently finalizing the purchase agreement.
“It appears that other bidders are not going to raise their bids or otherwise make them qualified bids, so the scheduled auction is canceled and the sale to Albertsons will be put before the court for approval in the next week,” reads a written statement from Local 367, the Bellingham Herald reports.
The news source also reported that UFCW Local 367 President Denise Jagielo commented, “This news will hopefully end the uncertainty for our members and our communities. Our members look forward to continuing their unparalleled dedication to the neighborhoods and their customers.”
If there is, in fact, a purchase agreement and it is finalized and approved by the bankruptcy court, this could mean the end of the Haggen saga entirely. Since filing for Chapter 11 bankruptcy in September 2015, the company began to quickly pull out of the new regions it gained from Albertsons, laying off employees, and entering into a $5 million legal battle.
While Haggen’s original plan was to restructure its business around the 33 “core stores” the company determined to be the most strong and profitable, it was given permission by the courts to also auction those in mid-December of 2015.
AndNowUKnow will continue to update you on this story as information is revealed.
