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MILAN, Ill. - Milan, Ill.-based Eagle Food Centers Inc., which owns and operates supermarkets in Illinois and Iowa, announced this week that Albertsons emerged as the successful bidder for five of its stores. The bid includes stores in the Illinois cities of Morris, Dixon, New Lenox, Peru and Geneseo, including the building and land of the Geneseo location.
Eagle, which filed for Chapter 11 bankruptcy in April, did not disclose the amount of Albertsons' bid.
Eagle intends to submit the results of the auction for approval by the U.S. Bankruptcy Court for the Northern District of Illinois at a hearing in Chicago on Sept. 11, 2003.
Boise, Idaho-based Albertsons operates Jewel/Osco stores in Moline, East Moline and Silvis, Ill., plus Osco pharmacies in Milan, Rock Island, Davenport, Bettendorf and Kewanee, Ill.
Eagle said it continues to pursue opportunities for the balance of its stores.