The news of the sale of 16 Genuardi's stores to Giant is old news already (it was announced yesterday after months of rumors). Giant (Ahold USA) is paying $106 million in a sale that is expected to close later this year.
Safeway, which operates more than 500 stores nationwide under banners such as Safeway, Vons, Dominick's, Randalls and others, bought the once-popular Genuardi's chain in 2001. It has been slowly selling or closing stores over the last couple years as sales have continued to decline.
According to Safeway's Eastern Division President, Steve Neibergall, "We have made the decision to exit the Philadelphia market."
Here's exactly how it's happening:
Stores included in the sale to Giant (all in PA):
King of Prussia
Lower Moreland (Huntingdon Valley)
Marlborough (Kennett Square)
Upper Gwynedd (North Wales)
Stores that will soon close (all in PA):
Norristown (West Main Street)
Stores that are on the sales block:
Cherry Hill (NJ)
Egg Harbor Township (NJ)
Norristown (Germantown Pike, East Norriton)
By the end of the year - and probably even earlier - it is likely that Genuardi's will be gone.