Wednesday, January 13, 2010

Albertsons To Close Eight Stores

On January 11th, Albertsons LLC had announced that it will be closing 8 stores in Florida, including 2 stores in Seminole County - the location at 80 W. Mitchell Hammock Road in Oviedo and 300 W. Lake Mary Blvd. in Sanford.

The stores are scheduled to close in mid-February as Albertsons attempts to find new tenants. These store closings are nothing new. In August of last year, Albertsons had announced the closing of nine Florida stores and one distribution center and in October, they announced the sale of three Orlando locations to Sedano Supermarkets. Gordon Food Service had also purchased the distribution center located in Plant City. From what I understand, the sale of the distribution center was only logical because profitability required a certain amount of stores, and with Albertsons' recent divestiture, sale of the 1-million square foot center was inevitable. It is only a matter of time before Albertsons exits Florida completely; I believe their total has now dipped into the low to mid twenties (I lost track), and compared to their largest competitors, Albertsons will most likely be extinct in 2 years, or at least in Florida.

For those employees who may face unemployment and an Albertsons severance plan, please review my other posts regarding Albertsons and my experience with their adminstering of my severance plan, as well as the severance plan offered in 2008, for it is most likely the same or very similar. It will be a useful tool in understanding the options Albertsons distributes to their employees, as well as those they decide to keep quiet about.

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