The Albertsons/Haggen drama may be finally coming to a close. A U.S. Bankruptcy Court has officially settled the company’s lawsuit against Albertsons, winning $5.75 million in cash.
Of course, that’s not exactly what Haggen had originally had in mind. As we’ve previously reported, Haggen was originally seeking over $1 billion when it initially filed the suit in September. In the lawsuit, Haggen accused Albertsons of “sabotaging” its business following Haggen's acquisition of 146 Albertsons locations following the company's merger with Safeway.
Earlier last month we had reported on the decision to settle for just under $6 million, when Albertsons commented that even though it believed Haggen's claims “lack merit,” the settlement would enable it to avoid expensive litigation.
Next for Haggen? An auction for what the grocer's calls its “core stores” has been pushed back multiple times, but is now scheduled for Monday, February 29. Stay tuned as we continue to update you on the latest developments.