Supervalu closing 60 'underperforming' stores - Bring Me The News

Supervalu closing 60 'underperforming' stores

Eden Prairie-based Supervalu announced Wednesday that it will close 60 stores in hopes of generating up to $90 million over the next three years. None of the stores are in Minnesota. The closures affect 22 Save-A-Lot locations, 27 Albertsons stores, four Acme stores, and one store from the Jewel-Osco chain. Eight other stores to be closed have not been released.
Author:
Publish date:

Eden Prairie-based Supervalu announced Wednesday that it will close 60 stores in hopes of generating up to $90 million over the next three years. None of the stores are in Minnesota. The closures affect 22 Save-A-Lot locations, 27 Albertsons stores, four Acme stores, and one store from the Jewel-Osco chain. Eight other stores to be closed have not been released.

Next Up

Related

Kmart closing store in Bemidji after 35 years

Kmart store manager Tim Hayen told the Bemidji Pioneer he is unsure when the store will officially close its doors. As many as 60 employees, most of whom are part-time, will be affected by the closure.

Supervalu eliminating up to 2,500 positions in California, Nevada

Eden Prairie-based Supervalu said it will reduce its workforce by cutting supermarket-level jobs at its Albertson's stores in California and Nevada. Albertsons is the largest retail subsidiary of the Supervalu, with 247 stores in the western United States. Supervalu owns a dozen supermarket chains, including Cub Foods in the Twin Cities.

Supervalu to open books for potential buyers

The troubled Eden Prairie-based grocery-store chain is expected to provide prospective buyout firms financial information later this week, the Wall Street Journal reports. Last week, Supervalu hired Goldman Sachs to explore selling either part or all of its supermarket operations after it reported a plunge in quarterly profit.

Supervalu closing Ohio distribution center

The Dayton Business Journal reports 120 people will lose their job when the Eden Prairie-based company consolidates the center. In February, Supervalu announced it was eliminating 800 jobs nationwide, including 200 workers in Minnesota.

Caribou Coffee

Caribou partners with Supervalu-owned chain

The Brooklyn Center-based coffee chain plans to open locations in select Jewel-Osco stores in the Chicago area, the Pioneer Press reports. Caribou also plans to introduce its premium packaged coffee throughout the Supervalu-owned grocery chain.

Supervalu plans to lay off 700 in New England

Eden Prairie-based Supervalu will cut about 700 grocery store jobs at its Shaw's and Star Market subsidiary stores in New England, two weeks after it posted a loss for the second quarter and said it was considering selling the company, the Associated Press reports.