Swift Current's pair of Huskey stores may soon be leaving the city due to a corporate decision.
On January 8, Husky announced via a news release that it is considering the sales of various "non-core" assets which include its retail and commercial fuels business, as well as their Prince George Refinery.
According to the release the reasoning behind leaving the retail side of their business behind lies in Husky's desire to focus on its Integrated Corridor and offshore business in Atlantic Canada.
CEO Rob Peabody explained the move.
"Our retail network and the Prince George Refinery are excellent assets, with exceptional employees, which have made solid contributions to Husky over the years," he said in the release published on the Husky Energy website. "However, as we further align our Heavy Oil and Downstream businesses to form one Integrated Corridor, we've taken the decision to review and market these non-core properties."
In regards to the possible sale of the retail outlets, Mel Duvall, a spokesperson from Husky said that the buyer of the retail stations would likely purchase the entire retail sector of Husky, but regional purchasing opportunities may be present.
"We anticipate that it would likely be a buyer that would buy the entire chain of retail stations, it could potentially be regional as well, for instance the Ontario market versus the western Canada market, but we anticipate that the most likely buyer would be someone who would be looking to acquire the entire network."
A number of news outlets are citing CIBC analyst Jon Morrison saying the assets Husky is contemplating selling are valued at $835 million.
There are over 500 retail and commercial Husky stations across Canada.