With Parent Co. Struggling, Shaw's And Star Market May Be Up For Sale
Shaw's and Star Market may be up for sale. That's after shares of parent company Supervalu, Inc., plummeted another 13 percent in trading on Wall Street Friday.
As WBUR's Curt Nickisch reports for our Newcast unit:
Supervalu's stock value has crashed more than 70 percent so far this year. The Minnesota company keeps losing money and market share to stores like BJ's Wholesale Club and CVS.
Supervalu has hired an investment bank to explore options. The troubled grocer says it will consider selling Shaw's and Star Market, based in West Bridgewater.
Shaw's has the second most grocery stores in the New England after Stop & Shop, but it's facing growing competition from another local company, Market Basket. Wegmans is also making inroads in Massachusetts.
This program aired on July 13, 2012. The audio for this program is not available.