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s lease obligations, the Company could be responsible for the obligations of Haggen under such leases. The Company does not know the extent to which Haggen will reject or default on its lease obligations to third parties or whether Haggen will be successful in selling store leases to third parties. The
sible for the lease obligation. In connection with the FTC-mandated divestitures, the Company assigned leases with respect to 93 store properties to Haggen. On August 14, 2015, Haggen announced that it intended to close 26 stores (including 18 leased stores and one ground-leased store) that the Company
on. In connection with the FTC-mandated divestitures, the Company assigned leases with respect to 93 store properties to Haggen. On August 14, 2015, Haggen announced that it intended to close 26 stores (including 18 leased stores and one ground-leased store) that the Company sold to it and that it may c
Amendment No. 3 to Form S-1 Table of Contents AB ACQUISITION LLC AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (unaudited) NOTE 9—COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS Guarantees California Department of Industrial Relations: On Octo
lbertson's LLC and Albertson's Holdings LLC asserting that those companies had committed fraud and breached the Asset Purchase Agreement under which Haggen purchased 146 divested stores by improperly transferring inventory out of purchased stores, overstocking and understocking inventory, failing to adv
f operations, or cash flows. Action against Haggen: Subsequent to the end of the Company's fiscal 2015 first quarter, on June 29, 2015, counsel for Haggen delivered a notice of claims to Albertson's LLC and Albertson's Holdings LLC asserting that those companies had committed fraud and breached the As
rdinary course of business, misusing confidential information and failing to use commercially reasonable efforts to preserve existing relationships. Haggen made no specific monetary demands, but withheld payment of approximately 541.1 million due for purchased inventory at 38 stores on the basis of thes
Amendment No. 3 to Form S-1 Table of Contents AB ACQUISITION LLC AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (unaudited) With respect to the remainder of the leases the Company assigned to third parties, because of the wide dispersion among third parties a
S Notes to Condensed Consolidated Financial Statements (unaudited) and misleading inventory data and pricing information on products transferred to Haggen, deliberately understocked and overstocked inventory in stores acquired by Haggen and wrongfully cut off advertising prior to the transfer of the st
d overstocked inventory in stores acquired by Haggen and wrongfully cut off advertising prior to the transfer of the stores to Haggen. Furthermore, Haggen alleged that, if it is destroyed as a competitor, its damages may exceed $1 billion, and asserted it is entitled to treble and punitive damages and
Amendment No. 3 to Form S-1 Table of Contents AB ACQUISITION LLC AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (unaudited) and misleading inventory data and pricing information on products transferred to Haggen, deliberately understocked and overstocked inve
Entities connected to both Haggen and Condensed Consolidated Financial Statements