GRAND UNION EXPLORING OPTIONS; SALE A POSSIBILITY

WAYNE, N.J. -- Grand Union Co. here set the stage last week for major longterm changes, including the possibility of an outright sale.The 206-store chain said it will explore "various strategic alternatives" to improve its financial performance, including asset sales, store closings or a sale of the company.However, a sale involving the entire company is not a foregone conclusion, Jeffrey P. Freimark,

WAYNE, N.J. -- Grand Union Co. here set the stage last week for major longterm changes, including the possibility of an outright sale.

The 206-store chain said it will explore "various strategic alternatives" to improve its financial performance, including asset sales, store closings or a sale of the company.

However, a sale involving the entire company is not a foregone conclusion, Jeffrey P. Freimark, executive vice president and chief financial officer, told SN. "With the p

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