Save-A-Lot, under the ownership and guidance of private equity firm Onex since last fall, announced earlier this month that it would close all 13 of its existing stores in California and Nevada, as well as the distribution center servicing them.
Supervalu, the discount grocer's previous owner, saw the west coast as a great opportunity, but current CEO Eric Claus told Supermarket News that the investment required to build brand equity and store density would be better deployed on initiatives where the chain was better established.
Save-A-Lot currently has about 1,400 stores from Colorado and states to the east.
The 13 stores are expected to close in a matter of weeks.
Showing posts with label Nevada. Show all posts
Showing posts with label Nevada. Show all posts
Monday, January 30, 2017
Friday, December 7, 2012
Tesco to shut down Fresh & Easy chain
Tesco, the British supermarket giant and the world's fourth largest retailer, announced it will sell or shut down its 200 Fresh & Easy grocery stores. All of the stores are located in California, Arizona and Nevada, and the banner is Tesco's only U.S. asset.
Fresh & Easy began with its first store in Phoenix in 2007, and the grocery chain's stores are typically in the 10,000 to 15,000 square foot range. They offer fresh food and ready-to-eat meals at low prices, and the stores are touted as more convenient alternatives to traditional U.S. supermarkets.
Since 2007, Tesco has invested about $1.6 billion in the chain, but it has never been profitable.
"It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate timeframe in its current form," said Tesco CEO Philip Clarke.
Analysts say that Aldi could be among those interested in acquiring the chain, and that Walmart could bid for parts of it.
Fresh & Easy began with its first store in Phoenix in 2007, and the grocery chain's stores are typically in the 10,000 to 15,000 square foot range. They offer fresh food and ready-to-eat meals at low prices, and the stores are touted as more convenient alternatives to traditional U.S. supermarkets.
Since 2007, Tesco has invested about $1.6 billion in the chain, but it has never been profitable.
"It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate timeframe in its current form," said Tesco CEO Philip Clarke.
Analysts say that Aldi could be among those interested in acquiring the chain, and that Walmart could bid for parts of it.
Monday, June 11, 2012
Acme's parent company to lay of workers in CA, NV
Acme's parent company, Supervalu, announced last week that it plans to layoff 2,200 - 2,500 employees at its Albertsons supermarkets in California and Nevada later this month. Supervalu, headquartered in Minnesota, is trying to lower costs, pay down debt from its 2006 Albertsons acquisition, and compete more successfully with rivals like Safeway and Kroger.
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