Supervalu Announces Store Closures, Idaho Spared For Now
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Supervalu and CVS Corp. purchased the majority of Albertsons' stores in 2006.
The owner of Idaho’s Albertsons stores, Supervalu, announced today it will close 60 stores nationwide by the end of February.
The Minneapolis-based grocery giant will close 27 western Alberstons stores, 19 in southern California and eight in Washington and Oregon.
Supervalu spokesman Mike Siemienas says the company plans to close eight additional stores, but he couldn’t say where those closures will occur due to “ongoing contractual discussions”.
Supervalu estimates it will generate up to $90 million from selling assets, monetizing real estate and clearing operating losses over the next three years.
Supervalu has laid off at least 150 corporate employees in Boise this year.
Supervalu currently owns 34 Alberstons stores in Idaho.Ā The company purchased a majority of Alberstons-brand stores in 2006 for $17.4 billion.
