business news in context, analysis with attitude

• The Minneapolis/St. Paul Business Journal reports that Supervalu is working with an adviser to consider options for the company, including a possible sale. The company has not commented on the report, and sources tell the Journal that “no final decision has been made and Supervalu may choose not to pursue a sale.”

• The Albany Business Review reports that Neil Golub, executive board chairman of The Golub Corp., which owns Price Chopper/Market 32, says that he doesn’t know whether his company “will pursue buying any of the stores owned by Tops Markets, a supermarket chain going through reorganization in bankruptcy court.”

"They have to go through their bankruptcy first," he says. "They've got a lot of debris in their way. It remains to be seen.”

Burt Flickinger, managing director of Strategic Resource Group and an MNB fave, tells the paper that he “doubted Tops Markets would sell a handful of individual stores to Golub Corp. unless the chain is forced to liquidate. ‘Tops is worth much more to everybody involved in the creditor, lender and operator community as a bundled business than a business to be broken up … If it's broken up and sold as individual stores, even the secured creditors would be unlikely to even get a dime on the dollar’.”
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