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KKR consultants oversee cutbacks at Freddy's
Kohlberg Kravis Roberts & Co., majority owner of Fred Meyer Inc., has brought in two high-powered consultants to make cutbacks and other operational changes at Freddy's in the wake of January's surprise departure of chief executive Frederick Stevens.
Recent shifts at the Portland-based retailer include halting progress on two stores slated for Washington, where Fred Meyer already has 21 locations in the Puget Sound area.
One of the consultants, Steve Burd, has worked on other corporate restructuring efforts by KKR, including its dramatic retooling of Oakland-based Safeway Stores Inc. Burd, who was unavailable for comment, is being assisted by fellow Bay Area consultant Len Gordon.