Eckerd on the Auction Block. J.C. Penney has announced that it plans to hold an auction to solicit bids for its struggling Eckerd drug store chain. Eckerd is the fourth largest drug store chain in the U.S. While Penney has sought help from its bank to solicit bids for 2,700 store chain, the New York Post reports that its pool of buyers may be significantly restricted by antitrust concerns and the sale of the chain is not a foregone conclusion. Canadian radio reports - via CJAD 800 - indicate that Jean Coutu Group, the Montreal-based owner and operator of 332 Brooks drug stores in Canada, may be interested in bidding on some or all of the Eckerd chain.
Posted by franchiselawblog at October 14, 2003 09:49 AM