Supervalu will sell all 18 of its Shaw’s grocery stores in Connecticut, the company announced Friday.
“While these decisions are always difficult, given the impact on associates and customers, they ultimately allow us to operate more efficiently and effectively within a highly competitive retail environment,” said Pete Van Helden, executive vice president of retail operations.
Five of the stores are being sold to Stop & Shop and 11 are being sold to individual owners.
Two Shaw’s stores remain, and Supervalu is looking for buyers.
The deal for the other 16 stores should close this spring.
There are still 176 Shaw’s stores in five New England states.
Supervalu, which is based in Minnesota, said last month that it returned to a third-quarter profit, in part through cost cuts.
Shares of Supervalu Inc. rose 1 penny to $14.92 Friday. (AP)
