NEW YORK — The investor group led by Cerberus Capital Management here that is buying five retail chains from Supervalu is likely to operate some and sell off others, though it remained unclear last week which could be sold, who the buyers might be or when those deals might transpire. “Cerberus is a money-generating company that definitely would flip whatever it can flip as quickly as it can flip it to get some of its cash back,” one industry observer told SN last ...

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