SuperValu Inc (NYSE:SVU) shares were plummeting on Monday as the company is reportedly considering exploring a sale.
A Friday report from Bloomberg revealed that the retailing company is working with an adviser to consider its options, which include a potential sale, according to people familiar with the matter. The company has yet to make a final decision on whether or not it will seek a buyout from another company, according to the sources, which chose to remain anonymous as the details of the sale aren’t public yet.
Regional retailers such as SuperValu have been struggling to keep up with the pace of the grocery giants around the country, which explains why a sale may be on the horizon.
SVU stock is down 8% on Monday.