Goodbye to Haggen grocery stores
Wikipedia states that strategic bankruptcy occurs when an otherwise solvent company makes use of the bankruptcy laws for a specific business purpose. An example of this was in 2002 when Kmart filed a Chapter 11 bankruptcy. Kmart had a severe cash flow problem because it was locked into long-term leases at premium rates with respect Read More →
Grocer Haggen files for Chapter 11 bankruptcy
Washington-based Haggen, the West Coast regional grocer, announced late Sept. 8 that it filed for Chapter 11 bankruptcy in an effort to reorganize. The company received $215 million in debtor-in-possession financing from its lenders to maintain its existing operations, according to a news release. “After careful consideration of all alternatives, the company concluded that a Read More →
Haggen closing 4 stores in Tri-Counties
Four Haggen grocery stores are closing in the Tri-Counties, the company announced Aug. 14. Two stores in Simi Valley, one in Newbury Park and another in Los Osos will close in 60 days. The stores will continue to operate in the meantime, according to the news release. “Haggen’s goal going forward is to ensure a Read More →
Haggen finds it’s tough to be third competitor for tri-county shoppers
The point of anti-trust regulators forcing Albertson’s and Safeway to sell off 146 supermarkets in order to allow for the two companies to merge was to create a viable third competitor in the market. That role was eagerly claimed by Haggen Inc., an independent grocery and pharmacy chain based in the state of Washington whose Read More →
Deal puts Haggen on fast grocery store track
Haggen, a grocery store chain out of the Pacific Northwest, is set to takeover 146 Albertsons and Safeway stores in California, Nevada and Arizona, 20 of which are located in the Tri-Counties.
