Haggen may have already put dozens of stores up for auction this week, but more may soon be on the way.
The company is now moving to sell all 32 of its most valuable, or “core,” stores, including at least 16 of its original locations. These were the so-called profitable stores that Haggen announced it would reorganize around, citing strong brand reputation in their respective areas.
A court document requesting a hearing to seek approval of this latest sale reads as follows: “As part of the Debtors’ overall sale strategy, the Debtors have decided, in their business judgment, to sell all of substantially all of the Assets – which collectively represent the Debtors’ most valuable store locations – in order to further maximize recoveries to the Debtors’ estates, their creditors, and all parties in interest.”
A hearing is to be scheduled on December 4th, with the auction to be held on January 8th.
As we previously reported, it was announced that Haggen would sell 28 California and Nevada stores to Smart & Final LLC and 8 California stores to Gelson’s Markets in a separate agreement.
No further announcements have been made in regards to the auction proceedings currently happening this week.
Below is a list of the “core” stores that Haggen would put up for auction early next year:
Stay tuned to DeliMarket News as we continue to follow Haggen’s auctions in the days ahead.