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Reuters reports that discount retailer Save-A-Lot, which was acquired by private equity group Onex Corp. from Supervalu for $1.365 billion in late 2016, is exploring a sale of all or part of the company’s 1230 stores. If a sale cannot be engineered, the story says, the company will explore other options for reducing what is described as a crushing debt load.

According to Reuters, “Save-A-Lot has hired investment bank PJ Solomon to explore a potential deal … The move comes as German discounters Lidl and Aldi are putting pressure on Save-A-Lot by expanding across the country, and big box rivals such as Walmart Inc cut prices.”
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