Food Emporium Sale Update

Crain's NY Business has released an update on the potential suitors for Food Emporium, citing some familiar names as potential buyers.  Mentioned were Christian Haub (former CEO A&P), Castimatidis (Gristedes), Whole Foods & Trader Joe's.   

What's at stake? Over 1,000 union jobs.

John Durso, president of Local 338, which represents 14 of the Food Emporium stores: "It is disappointing that the company put up one of its best assets for sale, but we will work with the successful bidder as long as it respects our collective bargaining agreement."

We'll be constantly updating our blog and members on any breaking news or developments during the sale process of Food Emporium.

Read more: http://www.crainsnewyork.com/article/20120916/RETAIL_APPAREL/309169978

Supermarket News also released an update on the sale, pricing the chain at anywhere from $100-150 million.

Faith Hope Consolo, chairman of retail leasing and sales for Prudential Douglas Elliman Real Estate, New York, described Food Emporium as having “exceptional” locations that could attract a range of uses. “This is Christmas come early for Trader Joe’s,” she said.

Read More: http://supermarketnews.com/aampp/ap-seeks-divest-nyc-chain-food-emporium#ixzz26jhamlpr

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The Washington D.C. Council is considering Walmart curbs, forcing retailers over 75k sqft and over $1 billion annual sales revenue, to sign a Community Benefits Agreement.

Sam Martin outlines his 5 steps for A&P's turnaround in Forbes. (link updated)

A judge in Wisconsin filed an injunction to block Scott Walker's collective bargaining law.

John Castimatidis is unsure if he'll run for Mayor of NYC.

Walmart announced they'll be opening 6 new stores in Chicago.

The NLRB has upheld UFCW Local 371's organizing victory of 400 workers at Foxwoods Casino.

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In related news Forbes reported last week that Barnes & Noble may be up for sale;
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"We believe that the combination of our effort and the change in the economy has led to a situation where there are not immediate efforts to close the store," said Patrick Purcell, spokesman for United Food and Commercial Workers Local 1500, which represents 100 employees at the store. "We're thrilled with what's happening."

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Citizens and the UFCW rallied against Wal-Mart last week in New Jersey.

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