The Albany Business Review reports that Golub Corp. has described stories about how it is considering a sale of the company as being "rumor and innuendo."
Mona Golub, a spokesperson for the company, tells the Business Review that the company does have "a new board finance committee to explore capital opportunities to help us accelerate" the conversion of its Price Chopper stores to the Market 32 concept.
Golub Corp., which has a total of 135 stores, now has 10 Market 32 stores, with plans to convert dozens more units.
Mona Golub, a spokesperson for the company, tells the Business Review that the company does have "a new board finance committee to explore capital opportunities to help us accelerate" the conversion of its Price Chopper stores to the Market 32 concept.
Golub Corp., which has a total of 135 stores, now has 10 Market 32 stores, with plans to convert dozens more units.
- KC's View:
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Rumors about Price Chopper being for sale usually crop up every six months or so, and I've learned over the years that if you want to tick off company chairman Neil Golub, you tell him that you've heard he wants to sell the company. I absolutely believe that the company is looking around for a potential financial partner to help finance the conversion effort; this only makes sense, since it a) is a costly endeavor, and b) these days, slow and steady doesn't win the race - it is important to make these kinds of changes as quickly and effectively as possible.
I have no idea who is spreading these rumors or why, but I've pretty much decided that I'm only going to believe that the company is for sale when Neil Golub tells me it is.
