Steve Mortensen, President and COO of Furrs Supermarkets, announced Saturday (11 August) that four additional Furrs Supermarkets locations will be not be acquired as part of Furrs’ purchase agreement with Fleming Companies, Inc.
The following stores are scheduled to be closed on Aug. 17, 2001:
So:Lo, 4001 East Main Street, Farmington, N.M.
Furrs, 2513 North Main, Roswell, N.M.
Furrs, 4340 West Illinois/Midland Dr., Midland, TX
Furrs, 1590 George Dieter/Vista del Sol, El Paso, TX
Go deeper with GlobalData
Under the collective bargaining agreement, Furrs employees will be offered the option of relocation to another store where available — based on seniority — or a severance package.
“We were unable to find buyers for these additional store locations,” Mortensen said. “We understand and regret that these necessary closures are difficult for our employees, and the communities we serve.
“Our employees have shown tremendous professionalism during these tough times,” he added.
On June 29, the U.S. Bankruptcy Court approved the purchase by Fleming of 66 Furrs Supermarkets locations in New Mexico and West Texas. Under the agreement, Fleming could choose not to acquire up to 27 stores from the final transaction. The purchase price of $57 million included all real estate, equipment leases, contracts and licenses. Furrs inventory was also purchased for an additional $50 million.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
