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NEW YORK - Leading grocery distributor Fleming Cos. on Thursday said it plans to give an update on a strategic review of its retail chain by the end of next month, and dismissed speculation that the process may involve a sale, Reuters reports.
The review, which some analysts have said could include a possible sale or a shutdown of about 127 low-priced food stores the company operates, was announced on July 30.
Fleming spokesman Shane Boyd told Reuters the company has not defined what the review may entail.
"Anything about a sale at this time is just speculation. We hope to give an update on where the review is by the end of September," Boyd told Reuters.
Fleming's retail division operates stores under names such names as Food4Less and Yes!Less stores.