Supervalu not finding takers for Shaw’s: report

CHICAGO (BestGrowthStock) – Grocery store chain operator Supervalu Inc (SVU.N: ) has been trying unsuccessfully to sell the Shaw’s grocery store chain for several months, the Wall Street Journal reported on Monday.

Supervalu could not immediately be reached for comment.

The company acquired Shaw’s as part of the buyout of Albertson’s in 2006. It sold 16 Shaw’s stores in February, but still has more than 175 of the stores in New England, the Wall Street Journal said. Some analysts have valued the assets of the chain at $1 billion, the Wall Street Journal said.

Supervalu has been selling assets and slashing costs as it tries to improve results and catch up with rivals like Kroger Co (KR.N: ).

(Reporting by Brad Dorfman; editing by Gunna Dickson)

Supervalu not finding takers for Shaw’s: report