The Fresh Market Closes 13 Stores, Moves out of Texas, Kansas, Iowa, and Missouri
GREENSBORO, NC - In one swift movement, The Fresh Market has announced the closure of 13 stores resulting in a complete exit from four states.
“The decision to close these stores is a difficult but necessary step with the end goal of producing a stronger, more agile company,” CEO of The Fresh Market, Rick Anicetti, said in a statement, according to the Dallas Morning News. “This shift also allows us to focus our energy and resources on the growth of our remaining stores, as well as new stores we have planned in the future.”
The closures include all eight of its locations in Texas, as well as its two Kansas locations, both Iowa stores, and only Missouri store.
Stores were closed down yesterday, May 3rd, when the retailer informed employees of the move, according to Dallas Morning News, and reopened today with prices slashed on grocery items.
In a letter to employees, Senior Vice President Karen Stout wrote that the doors to the announced locations will close permanently on May 18th. Workers affected will be paid for 30 days past that closing date.
It has only been two months since The Fresh Market exited California, which it announced shortly before agreeing to be acquired by the Apollo Global for approximately $1.36 billion. The retailer did not, however, release any information that the purchase is involved with the closures.
As retailers continue to make strategic moves in the market, AndNowUKnow will continue to report on any details that could influence the produce industry.