Delhaize Group announced on November 6 that it has signed an agreement to sell ALDI Inc.'s Bottom Dollar Food´s 66 store locations in the greater Philadelphia and greater Pittsburgh markets for approximately $15 million and includes the assumption of associated lease liabilities. The transaction is expected to result in an asset impairment and other charges for Delhaize Group of approximately $180 million.
All stores are anticipated to remain open as Bottom Dollar Food stores until year-end. After that time, Bottom Dollar Food will close the stores and retire the banner´s operations. The transaction is subject to customary closing conditions and is expected to be completed by the end of the first quarter 2015.
All stores are anticipated to remain open as Bottom Dollar Food stores until year-end. After that time, Bottom Dollar Food will close the stores and retire the banner´s operations. The transaction is subject to customary closing conditions and is expected to be completed by the end of the first quarter 2015.
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