Arden Group, Inc. Announces Pasadena Store Closure
March 18 2013 - 1:03PM
Business Wire
Arden Group, Inc. (Nasdaq:ARDNA) announced today that its
wholly-owned subsidiary, Gelson’s Markets, has given notice of
termination of its Pasadena lease in accordance with the lease
terms and intends to close its Pasadena store on or about July 21,
2013. Gelson’s currently operates seventeen stores in Southern
California. Upon closing its Pasadena location, it will operate
sixteen stores. Gelson’s previously announced that it has entered
into a lease for a new store in Long Beach, California which is
being remodeled from an existing supermarket and which Gelson’s
currently expects to open in late 2013. Gelson’s plans to transfer
some of the fixtures and equipment from the Pasadena location to
the new Long Beach store.
The Private Securities Litigation Reform Act of 1995 provides a
safe harbor for forward-looking statements made by or on behalf of
Arden Group, Inc. (Company). Certain statements contained in this
press release are forward-looking statements. These statements
discuss, among other things, the closing of a location, the
transfer of some fixtures and equipment and the opening of a new
store in late 2013 which may or may not be accomplished. These
forward-looking statements reflect the Company’s current plans and
expectations and are based on information currently known to the
Company. The Company cautions readers that any forward-looking
statements contained in this press release involve risks and
uncertainties and are subject to change. The Company does not
undertake any obligation to update forward-looking statements.
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