Corvallis Albertsons to close by Dec. 1

2012-09-05T19:30:00Z 2012-09-05T22:55:27Z Corvallis Albertsons to close by Dec. 1Corvallis Gazette-Times Albany Democrat Herald
September 05, 2012 7:30 pm  • 

The Albertsons store at 2005 Northwest Circle Boulevard is one of 60 “underperforming” locations across the nation that is being closed by Dec. 1. The store’s parent company, Supervalu Inc. of Minneapolis, Minn., made the announcement on Wednesday.

Media representative Mike Siemienas said Wednesday that the only other Oregon location to close is in La Grande, meaning that the store in Albany would not be closing at this time.

An employee at the Corvallis store said employees had been told. He estimated that the decision would affect “50 to 60” employees of the store. He declined to give his name but said that he had no other employment prospects at this time.

Supervalue’s website headlined the announcement “Closures expected to generate $35 million in cash within 12 months; $80-$90 million expected over next three years.”

According to a press release from Supervalue, the closure affects 60 “underperforming or non-strategic stores this fiscal year, including 38 in its retail food reporting segment and 22 Save-A-Lot locations.”

The company expects to realize its pre-tax charge of $80 million to $90 million from “monetizing owned real estate, eliminating cash operating losses, and selling departmental assets.”

Supervalue Inc. has annual sales of approximately $35 billion and has about 4,400 stores nationwide, with about 130,000 employees.

Copyright 2015 Albany Democrat Herald. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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