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Supervalu, the Minneapolis-based parent of Jewel-Osco said sale talks are proceeding Thursday after stock closed down more than 18 percent, to $2.28.
The beleaguered grocery chain was likely moving to combat reports that sale talks with suitor Cerberus Capital Management had stalled over funding.
"The company continues to be in active discussion with several parties," according to the statement. "There can be no assurance that this process will result in any transaction or any change in the Company's overall structure or its business model."
Supervalu has acknowledged sale talks since the spring. The company has been closing stores and cutting jobs as it has underperformed competitors like Dominick's parent Safeway and Kroger.
In addition to Jewel, Supervalu owns Albertsons, Cub and other regional grocery chains.
Jewel parent says sale talks proceeding
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Jewel parent says sale talks proceeding
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Jewel parent says sale talks proceeding
