Safeway Closing 9 Denver Stores

Citing poor performance, Safeway Inc. (Pleasanton, Calif.) will close nine grocery stores in and around the Denver area by June 13. The company said it will attempt to relocate workers from the closed locations to other Safeway stores, according to Progressive Grocer.

The news comes after last month’s reports that Safeway’s parent company, AB Acquisition LLC (Boise, Idaho), is preparing to take the company public later this year. The IPO, analysts estimate, could raise up to $500 million for AB Acquisition.  

After the Denver closures, the company will operate 93 Safeways and 17 Albertsons supermarkets in Colorado.