Albertson's plans to close 100 stores
Jun 8, 2006 9:44 AM, from staff and wire reports
Albertson’s LLC intends to close 100 underperforming stores, or about 16% of its locations. The Boise ID-based supermarket chain, which is partly owned by Cerberus Capital Management LP, will shut 37 outlets in Northern California, 30 in Texas, 16 in Colorado, nine in Arizona, and eight in Florida. The stores likely will close by early August.
The new Albertson’s LLC was formed by a group including Cerberus, Kimco Realty Corp, and other companies after they agreed to purchase 661 stores from the former Albertson’s Inc in January 2006.
These closings do not affect stores owned by SuperValu, which recently acquired Albertson's banner stores in the intermountain, Northwest, and Southern California regions.
