LOS ANGELES, CA - The gavel has fallen at Haggen’s most recent auction, with Albertsons walking away with 12 of the 36 locations it planned to take back.
The Seattle Times reports that all of the 12 locations that are changing hands are located in Washington state, with six slated to go under the Albertsons banner and six under Safeway.
As we reported earlier this week, U.S. Bankruptcy Court documents showed that the chain would be putting 130 Haggen stores on the auction block, 36 of which Albertsons (who sold 146 stores to Haggen last year) had planned to bid on.
The prices for the stores were not disclosed, according to the report, but Haggen had revealed previously that Albertsons’ initial offer for one of its locations was at $1.7 million.
This is only the latest in a slew of moves from Haggen’s attempt to scale back down from its balloon growth when it more than doubled its size almost a year ago, most recently including the possibility of selling the core stores it planned to restructure around after initially filing for Chapter 11 Bankruptcy.
Keep checking in with AndNowUKnow as we continue to report on this and all other developments in the retail sector influencing the produce industry.
