Albertsons reveals projected IPO proceeds
Haggen puts 111 stores up for sale
BELLINGHAM, Wash. — The bankrupt Haggen supermarket chain has listed 111 locations for sale, many in California, as the company looks to refocus its operations on 37 stores in the Pacific Northwest.
Bellingham, Washington-based Haggen has asked the bankruptcy court to approve store closing sales at 68 locations in California; 14 in Washington; seven each in Nevada and Oregon; and five in Arizona. The company has retained Sagent Advisors to explore market interest for the locations that were part of the 146 stores Haggen acquired from Albertson’s earlier this year. The ill-fated deal precipitated Haggen’s bankruptcy filing, which was followed quickly by a lawsuit that alleged Albertson’s sabotaged Haggen’s efforts to integrate the newly acquired stores.
Moving forward, Haggen said in a statement that it intends to re-build its operations around a core group of successful stores made up of 37 locations in the Pacific Northwest. The core stores include 16 of Haggen’s historical stores, one stand-alone pharmacy and 21 stores acquired from Albertson’s.
“Haggen plans to continue to build its brand in partnership with its dedicated corporate support and store teams. Haggen has a long record of success in the Pacific Northwest and these identified stores will have the best prospect for ongoing excellence,” said John Clougher, CEO of Haggen Pacific Northwest. “Although this has been a difficult process and experience, we will remain concentrated in the Pacific Northwest where we began, focusing on fresh Northwest products and continuing our support and involvement in the communities we serve.”
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