Save-A-Lot announced on Friday that it is getting out of the California and Nevada markets, closing 14 stores and a distribution center there. The closures represent less than one percent of the company's fleet.
In a prepared statement, the company said that the decision followed "rigorous review and analysis," and would "free up resources to allow the company to focus on building out markets where it already has a larger, more established footprint of corporate and licensee stores."
The closing include one licensed unit and 13 corporate stores.
Save-A-Lot was recently acquired by Canadian private equity firm Onex Corp. from Supervalu for $1.37 billion.
In a prepared statement, the company said that the decision followed "rigorous review and analysis," and would "free up resources to allow the company to focus on building out markets where it already has a larger, more established footprint of corporate and licensee stores."
The closing include one licensed unit and 13 corporate stores.
Save-A-Lot was recently acquired by Canadian private equity firm Onex Corp. from Supervalu for $1.37 billion.
- KC's View:
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Not a big deal, but, I think, a good sign for Save-A-Lot, which knows that in order to be competitive, it is critical to have razor-sharp focus. I suspect they looked at a small footprint out west and figured that it was more of a distraction than it was worth.
