Apollo is reportedly seeking to sell Heritage as operations sour.
On November 17, 2025, Moody’s downgraded Heritage’s credit rating to Caa1 from B3, due to the company’s weak operating performance
Moody’s: “We expect Heritage Grocers to continue to face a difficult consumer spending environment, compounded by reduced customer traffic due to changes in immigration policy and high promotional activity that will constrain revenue growth and pressure margins. We expect the company to maintain good liquidity over the next 12 months.”
EBITDA declined 12% in 2024, acording to S&P Ratings
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