Shop 'n Save owners considering selling chain
The owners of grocery chain Shop 'n Save are considering selling.
Supervalu Inc. has reportedly been pressured by an activist investor in recent months to break itself up, and may be working with an adviser to explore options, according to Bloomberg Business Journal. No final decision has been made, however.
The grocery wholesaler provides products to more than 1,800 stores, Bloomberg reported. It also operates almost 200 locations, and it has sold most of its brick-and-mortar operations in recent years.
Shop 'n Save is a shrinking part of Supervalu's operations after the company was saddled with high levels of debt, according to the St. Louis Business Journal. It sold off most of its retail stores, including Albertsons and its Save-a-Lot chain. Slumping stock prices have put the wholesaler under pressure from shareholders to find a buyer.
In the St. Louis region, there are 41 Shop 'n Save locations, the St. Louis Business Journal reported.
This story was originally published April 9, 2018 at 7:01 PM with the headline "Shop 'n Save owners considering selling chain."