Supervalu to Shutter 60 Stores to Raise Cash

“Today’s announcement reflects our commitment to move with a greater sense of urgency to reduce cost." — Wayne Sales, CEO, Supervalu

MINNEAPOLIS — Supervalu last week said it would close 60 struggling stores including 19 Southern California  Albertsons locations and 22 Save-A-Lot discount stores, in an effort to cut losses and generate cash from the sale of their underlying real estate.

The company said the majority of the stores would close before Dec. 1. The moves reflect an initiative announced under Wayne Sales, its new chie

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TAGS: News Supervalu
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