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Haggen Now Looks to Sell Over $12 Million in Assets Back to Albertsons Safeway

Haggen Now Looks to Sell Over $12 Million in Assets Back to Albertsons Safeway


BELLINGHAM
Monday, September 21st, 2015

Despite the shots fired between Haggen and Albertsons in recent weeks, reports have come in the Washington-based chain is now seeking to sell back more than $12 million worth of assets to Albertsons and Safeway.

Haggen is already in talks with Albertsons to negotiate rehiring former employees to mitigate layoffs as of last week, even though the two are at the beginnings of a billion dollar lawsuit. Now the Puget Sound Business Journal reports that the retailer is also looking to sell Albertsons Safeway back $3.57 million in inventory, plus $8.9 million in “records and good will.”

According to the report, the transfer to Albertsons would involve assets from 13 Haggen stores that are already located near its competitors banners.

Additionally, a spokeswoman for Haggen confirmed to the Puget Sound on Friday that the company has already slated more stores for closing on top of the previously announced 27 that are getting either sold or closed.

This latest development comes after a series of turns since Haggen bought 146 stores from Albertsons in order for the latter to proceed in its $9.4 billion merger with Safeway, including hiring an outside consulting agency to evaluate the performance of all Haggen stores and deciding to restructure itself around 18 core locations.

Deli Market News will continue to bring further updates with this story, as well as all other retail news influencing the produce industry, so stay tuned.

HaggenAlbertsons



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