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Albertsons bought 33 former Haggen stores for $14.3 million at a bankruptcy auction in November, many for the nominal price of $1 since they came with liabilities as part of their sale. [7] The failure of the spin-off of stores to Haggen has been seen as a particular concern for the proposed Albertsons–Kroger merger. [8]
Albertsons Companies, Inc. [1] [2] is an American grocery company founded and headquartered in Boise, Idaho. With 2,253 stores as of the third quarter of fiscal year 2020 and 270,000 employees as of fiscal year 2019, [3] [8] [6] the company is the second-largest supermarket chain in North America after Kroger.
A bankruptcy auction for the remaining core 33 stores of the Haggen chain was set for February 5, 2016. [35] On January 21, 2016, Albertsons settled the Haggen's $1 billion lawsuit for $5.75 million. (Roughly 0.6 cents on the dollar). Albertsons also agreed to transfer its unsecured claim of $8.25 million to Haggen's other creditors in the ...
On September 9, 2013, United Supermarkets LLC was sold to Albertsons LLC. [6] On February 4, 2014, the FTC voted 4–0 to approve the deal. The acquisition deal cost Albertsons $385 million and required Albertsons to sell its single stores in the Amarillo and Wichita Falls, Texas, markets. [7]
(Reuters) -A U.S. judge blocked the pending $25-billion merger of U.S. grocery chains Kroger and Albertsons on Tuesday, in a win for the Federal Trade Commission that Kroger has said would likely ...
According to Albertsons, even after making the special dividend payment, the company would have about $3 billion of liquidity, $500 million in cash and $2.5 billion available under its asset-based ...
Albertsons said it would repurchase $2 billion of its shares and increase the dividend it pays to owners of its stock by 25%. Stock repurchases — which reduce the number of shares available ...
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [13] closing the remaining 54 stores [14] with plans to auction its intellectual property. [15] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [16] The shoe chain emerged from bankruptcy two years later. [17]