Recovery bid prompts Albertsons to close some stores

Recovery bid prompts Albertsons to close some stores

The Idaho-based supermarket group Albertsons plans to close about 100 stores across the US as it struggles to regain financial health by focusing on best-performing locations. Although the retailer confirmed plans to streamline retail operations the exact number of store closures was not disclosed.



Albertsons, which operates about 650 stores under the Albertsons, Super Saver and Grocery Warehouse banners, was recently acquired by a group of investors led by Cerberus. A spokeswoman said the closures are taking place in all divisions but did not mention the total number pending proper notification to all affected employees. Local media reports said 37 stores are affected in Northern California, 30 in Texas, Oklahoma and Louisiana, 16 in Colorado, nine in Arizona and eight in Florida. Albertsons agreed in January to an acquisition deal composed of retailers and financial buyers, including Supervalu, for $9.8 billion in cash, stock and debt assumption.

Published 07-06-2006 (14:05)

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