Haggen Delays Core Store Auction
BELLINGHAM, WA - The auction on Haggen’s “core” stores has been pushed back once again, putting the sale of the retailer’s most valuable locations back from this Friday, Feb. 5th to Feb. 11th.
Haggen had previously hired investment bank Sagent to explore selling the company for more than $1 million to help sell its stores, which can be bought by anyone. Even if these stores are sold, it does not necessarily mean the end of the Haggen name itself, according to the Bellingham Herald. The paper notes that an investor or buyer could come in and purchase the stores with the intention of keeping now well-known brand name.
As we reported previously, the company had filed for bankruptcy in early September, following a period of rapid growth when it purchased 146 stores (more than twice its original store count) from Albertsons in 2014.
Ever since, the retailer has since gone through several stages of the bankruptcy process, from pulling out of its new regions, to finally gaining permission from U.S. Bankruptcy Court to sell off its remaining core stores, 33 in total.
Reports on the pushed back auction date did not reveal a reason for the delay.
Haggen's next steps have yet to be revealed, so keep checking in with AndNowUKnow as we continue to follow this and other influential moves in retail.
