Haggen Postpones Auction for Core Stores for the Third Time
BELLINGHAM, WA – The auction for Haggen’s core stores has been postponed yet again.
For the third consecutive time, the struggling grocery chain has rescheduled its auction – this time, on Friday, March 11, according to court documents. The auction will be held at the law offices of Stroock & Stroock & Lavan LLP in New York City at 6:00 am PST, according to the Bellingham Herald.
As before, no reason was given for this unexpected delay.
The Bellingham Herald reports that the qualified bidders for the auction have yet to be revealed. Whoever does end up with the stores – an investor or buyer – has the option to keep the brand or convert it to another.
As we previously reported, the stores being auctioned are those that Haggen deemed most strong and profitable. The company was given permission by the courts to auction these stores in mid-December 2015.
We will continue to follow any further developments as this story progresses.