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Albertsons stores in Kent, Auburn to close
SuperValu Inc. will close the only Albertsons store in Kent and one of two in Auburn as part of a shut down of 27 stores in Southern California, Oregon and Washington.
The majority of the stores are expected to close before Dec. 1, according to a Sept. 5 media release from the Minneapolis-based SuperValu, which owns more than 2,400 stores nationwide that operate under a variety of names.
Company officials picked 60 underperforming or non-strategic stores to close.
The company will close Kent's Panther Lake area store at 20600 108th Ave. S.E. as well as the North Auburn store at 1347 Auburn Way North. The Auburn store along A Street will remain open. Other closures in Washington are in Sumner, Kirkland, Lacey and Marysville.
The closures are expected to generate $35 million in cash within 12 months and $80 to $90 million over the next three years from monetizing owned real estate, eliminating cash operating losses and selling departmental assets. The company owns the real estate for approximately one-third of the retail food stores being closed. Cash generated from these actions will be used to reduce outstanding debt and for other general corporate purposes.
“These decisions are never easy because of the impact a store closure has on our team members, our customers and our communities,” said Wayne Sales, SuperValu's president, chief executive officer and chairman. “Today’s announcement reflects our commitment to move with a greater sense of urgency to reduce costs and improve shareholder value.”
SuperValu would not discuss how many employees could lose their jobs.
"Team members can apply for open positions," said company spokesman Mike Siemienas in an email. "Based on many factors, we are not disclosing the number of team members affected by this announcement."
The closures in the retail food segment include 27 Albertsons stores (19 in Southern California and eight in Washington and Oregon), 22 Save-A-Lot locations, four ACME stores and one previously announced Jewel-Osco location.