Dubroff: Obama administration’s anti-trust efforts failing in Tri-Counties
Monopoly is a fun game — as long as you’re the winner. And so it is in the actual game of business, where monopoly has become the all-too-frequent outcome of mergers and acquisitions. It happened just a few months ago in the grocery business. Office supplies and pharmacies could be next. The grocery saga is Read More →
Bankruptcy court OKs sale of Haggen stores in Tri-Counties
Haggen will be able to sell all of its stores in California, Arizona and Nevada, including 36 to Smart & Final and Gelson’s Markets, a Delaware bankruptcy court ruled. Smart & Final and Gelson’s got the first pick of the 127 shuttering Haggen stores. Commerce-based grocer Smart & Final signed a deal for 28 Read More →
Haggen lines up buyers for 10 stores in Tri-Counties
Haggen is looking to sell some of its soon-to-be vacant stores in the Tri-Counties to Gelson’s Markets and Smart & Final pending bankruptcy court approval, the company announced Oct. 5. Gelson’s and Smart & Final got the first pick of 127 shuttering Haggen stores. The high-end Encino-based grocer Gelson’s signed an asset purchase agreement Read More →
Haggen store closings taking toll in Tri-Counties
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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 →
