Supervalu sold 16 Shaws stores in February, as it continues to battle against the financial downturn

Supervalu sold 16 Shaw's stores in February, as it continues to battle against the financial downturn

Supervalu Inc, the US retailer, has been attempting to sell its New England grocery-store chain Shaw's for several months, reports have said.

However, The Wall Street Journal yesterday (20 December) cited "people familiar with the matter" as saying Supervalu has yet to find a buyer.

Supervalu acquired Shaw's as part of its $11.4bn acquisition of Albertson's in 2006.

Supervalu sold 16 Shaw's stores in February, as it continues to battle against the financial downturn.

However, it continues to own over 175 of the stores in New England. The Wall Street Journal said some analysts have valued the assets of the chain at $1bn.