ST. ANN — A smattering of Save A Lot grocery stores are shuttering around the country as the company finalizes a deal to shed hundreds of millions of dollars in debt.
Recent news reports and social media posts detail closings in Chicago, as well as in Delaware, North Carolina, Indiana and Florida.
A Save A Lot spokesman on Monday declined to comment or answer questions about whether more closings, including in the St. Louis area, could be coming.
Last month, the St. Ann-based discount grocer said it had inked an agreement with a majority of its lenders to reduce its debt by more than $400 million. The agreement also includes $138 million in new capital.
The deal was approved by lenders representing 67% of the company’s term loan credit agreement. It will significantly reduce its annual interest expense.
At least three Save A Lots in northeast Florida have closed since December, with another expected later this month, the Jacksonville Daily Record reported last week.
The Delaware State News reported that a Save A Lot in Dover shut down last month.
Another store in Lafayette, Ind., was slated to close Feb. 1, according to the Journal & Courier newspaper — the same day a Save A lot in High Point, N.C., also was set to close, the High Point Enterprise reported.
And Chicago Alderman David Moorethat a store in his ward would close Feb. 22.
Save A Lot has more than 1,100 stores in 33 states. It was founded in Cahokia in 1977 and sold in 1988 to Hazelwood-based wholesaler Wetterau, which was bought by Minneapolis-based Supervalu Inc. in 1993.
Supervalu sold Save A Lot in 2016 to the private equity firm Onex Corp. in a $1.4 billion deal. Reuters last year reported that it was exploring a sale of all or part of the company.
A Bloomberg report in August said Save A Lot had more than $820 million of net debt outstanding.
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