Supervalu Closing Stores

The struggling supermarket chain will be closing 60 stores around the country, primarily in its Albertsons and Save-A-Lot divisions.

A significant number of the Albertsons' slated for closing will be in Southern California, including in Long Beach, Glendale and Van Nuys. Stores in states including New Jersey, Pennsylvania, Maryland, Georgia, Illinois, Missouri, Indiana, Alabama, Oregon and Washington will also be affected.

According to Los Angeles Times:

The company said it would generate about $80 million to $90 million in cost savings over the next three years.

"These decisions are never easy because of the impact a store closure has on our team members, our customers, and our communities," Wayne Sales, Supervalu's chief executive, said in a statement.

Supervalu has recently been looking for a buyer and analysts have expressed concern that the vast differences between its many brands might present an obstacle to a sale.

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