The Albertsons store on Lee Boulevard in Richland will close by Feb. 25 as its parent moves to close underperforming locations in advance of an initial public offering.
Albertsons LLC, based in Boise, announced the closure to employees, said spokeswoman Sara Osborne. The store’s employees will be eligible for positions with nearby Albertsons and Safeway stores.
“We have been unable to reposition the store to better compete in the market place, and following an extensive review, we have made the difficult decision to close the store,” she wrote.
Albertsons is moving to improve its financial performance in conjunction with plans to take the private company public. In 2015, it notified the U.S. Securities and Exchange Commission of its plans to issue public stock. Its bid to trade on the New York Stock Exchange under the symbol ABS is pending.