DISTRESSED DAILY: Grocer Save A Lot Faces Renewed Uncertainty

Two years after Save A Lot’s financial restructuring reduced the discount grocer’s debt by almost half, the company is once more facing financial strain as it seeks to pivot its business.

Save A Lot, which has about 900 branded stores in 32 states, has been selling off its 300 corporate-owned locations in an effort to move from being a retail grocer to a higher-margin wholesale distributor. The company finished those sales in December, but S&P Global Ratings said the deals took a year longer than expected. The credit grader said it expects an uptick in profitability for the chain in ...