Retail Watchers

It appears the judge made three important rulings today. 1 - Approved the DIP loan 2 - Approved the executive retention bonus 3 - Approved the going out of business/store closure plan I didn't have time to read all the details but in general it appears they got what they wanted and most objections w...

It looks like Albertsons has now postponed their IPO:

http://www.progressivegrocer.com/indust ... conditions

Interesting development. It would be interesting to see what Publix would do with them. They usually like to go in new markets by building new stores.

The anti-trust issues would have nothing to do with them being a privately held company, however. That has to do with competition.

The final hearing for the $215,000,000 DIP loan is scheduled for tomorrow at 2:00.

Wells Fargo filed an objection to the store closings today saying that Federal banking laws requires= a 90 day warning (120 days in low income areas) before a bank branch can be closed and they operate numerous branches inside Haggen stores. Don't know how much effect this will have but it's an inte...

I was in one of the Henderson stores today. Truly, if the Haggen integration was mismanaged, the wind-down is even worse. The sign outside the pharmacy directing customers to CVS had the address of one store scratched out, with another store number and address written in -- they didn't even seem to...

But the FTC Agreement will restrict them from taking back their former stores as it currently stands. That's what I would think as well. But in the UFCW's filings yesterday objecting to the going out of business sales I found this quote which was interesting, "(the going out of business sales)...

The UFCW actually filed two separate motions yesterday. The other one was in objection to a Haggen request to pay their management a bonus of $1,600,000. Haggen says it is necessary to pay this amount as retention bonuses to keep management from walking away from their jobs during the bankruptcy. Ne...

Interesting perspective from the Bellingham Business Journal: http://bbjtoday.com/blog/going-big-what-court-documents-reveal-about-haggens-fast-failure/32439 Interesting article. What I found interesting was this quote: "After the FTC ordered Albertsons to sell stores, Albertsons got to pick w...

It appears there are six additional stores being marketed for sale (but not yet slated for closure?): Burien, Puyallup and Federal Way, Wash., and Happy Valley, West Linn and Eugene, Ore. I think Puyallup is an original Top Food? I thought the former Albertsons/Safeway in Puyallup was already earma...