Bankrupt grocer Haggen receives court approval to sell 47 stores Wednesday, November 25

Bankrupt grocery chain Haggen said on Wednesday it had received court approval to sell 47 stores on the West Coast, most of which will go back to grocer powerhouse Albertsons, as part of a plan to emerge from Chapter 11. Bellingham, Washington-based Haggen ran into debt trouble this year after a costly and ambitious expansion drive that included the purchase of 146 supermarkets from the much-larger Albertsons chain. Now 30 stores are being sold back to Albertsons, which has been preparing for an initial public offering.

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