The third time was not the charm in the case of Haggen selling its core stores—the auction has been postponed yet again.
For the third time in just a few week's span, the bankrupt retailer has rescheduled its auction, this time for Friday, March 11, according to the company's court documents. According to the Bellingham Herald, the auction will take place at the law offices of Stroock & Stroock & Lavan LLP in New York City at 6:00 am PST.
The same story as previous delays still rings true—no reason has been given for the latest delay.
The auction of Haggen’s 33 core stores was originally scheduled for February 5 and delayed to February 11. Then, the auction was pushed yet again to February 22.
The qualified bidders for the auction have yet to be revealed, the Bellingham Herald reports, but whichever investor or buyer does win the stores has the option to either retain the brand or convert it.
As we previously reported, Haggen's "core stores" are those the company deems most strong and profitable. A judge granted the company permission to auction these locations in mid-December 2015.
DeliMarket News will continue to cover any further developments as the story progresses.
