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Haggen Delays Core Store Auction

Haggen Delays Core Store Auction

Wednesday, February 3rd, 2016

Haggen’s most valued, or “core,” stores are not officially up for sale just yet.

The retailer originally had the block set up for this Friday, Feb. 5th, but has since been pushed back to Feb. 11th, according to the Seattle Times.

The report did not disclose the reason behind the delay, and while Haggen has hired an investment bank to explore selling the company, the stores can be bought by anyone and does not necessarily mean the end of Haggen itself.

As we reported previously, the company filed for bankruptcy in early September, following a series of moves to grow rapidly when it purchased 146 stores (more than twice its chain) from Albertsons in 2014.

It has since gone through stages of digression, from pulling out of the regions it had entered, to finally gaining permission from U.S. Bankruptcy Court to sell off its core stores, 33 in total.

What Haggen has planned past that point has yet to be revealed, so keep checking in with DeliMarket News as we continue to follow this and other influential moves in the retail circuit.