Albertsons Buys Back Merger Stores

Grocery chain Albertsons Companies Inc. (Boise, Idaho) is buying back 33 stores it sold last year. In the company’s $9.2 million merger with Safeway, the company was forced by federal regulators to sell 146 stores, which were bought by Haggen Food & Pharmacy (Bellingham, Wash.)

Haggen filed for Chapter 11 bankruptcy in September and sold 55 stores in November at auction. More than half the stores bought back by Albertsons were purchased for $1 each, though the company paid $14.3 million for all 33 locations.

Arizona Central reports Haggen filed a lawsuit against Albertsons alleging the company had sabotaged Haggen’s new stores. Albertsons also filed a lawsuit accusing Haggen of fraud. Both lawsuits are pending decisions.