A grocery store with 900 locations now makes an unexpected closure despite a recent $26.5 million deal to make upgrades.
In just under two weeks, Save-A-Lot will be closing a grocery store in Richton Park, Illinois, a suburb of Chicago, reports The-Sun.
The Village of Richton Park announced the closure on Facebook, saying the grocer’s last day will be February 16.
“The store will have had a 17-year run in our town center,” Village President Rick Reinbold said in a statement shared to Facebook.
“Richton Park shoppers want a new specialty grocery store, so hopefully this vacancy becomes an opportunity for a new user our residents can be proud of.”
The Save-A-Lot store is owned by Ohio-based Yellow Banana, and is one of approximately 900 nationwide stretching across Colorado, Texas, Florida, Maine and more.
The grocer is extremely popular for its discounted selection of quality groceries and family meal planning items, reports The-Sun.
While the company reportedly began seeking to renovate multiple Chicago-based location, the Village said Yellow Banana declined the “propose any new investment or lease extension for the Richton Park store.”
The Richton Park location is approximately 15,000 square feet and is expected to be home to a new location, alongside a specialty vegan bakery and cafe.
“The Village of Richton Park is a warm, welcoming and diverse south suburban village where progress and forward thinking are plentiful,” the statement said.
“Richton Park prides itself in being a safe, tight-knit community with opportunity and promise for visitors, families, and businesses.”
Many shoppers have lamented the closure, taking to Facebook to express their dissatisfaction with the decision.
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Also Read: A Popular Clothing Retailer Now Begins An Unexpected Liquidation
Other Economy News Today
A massive shoe retailer is now closing locations after store employees said the business was “priced out” after a rent increase.
The Journeys in the Arnot Mall will be closing on January 20 after the company announced plans to shutter 100 stores, reports The-Sun.
Select staff will be transferred to other Journeys locations.
The store is located in Horseheads, which is about two hours south of Syracuse.
The manager said the closure was disappointing and the employees are like family.
There is no closing sale because all the merchandise will be transferred to nearby locations.
This comes after Genesco, which owns the shoe store, announced it would close 100 stores and move away from malls.
In May, it was initially estimated that only 60 locations would close after net sales dipped 7% due largely to a 13% decrease at Journeys.
Genesco expects to save up to $40 million from the closures, reports Retail Dive.
Now the company plans to shift the store’s presence away from malls.
“We still have work to do, but we are so far encouraged by the early reads and believe this initiative will represent a key element in Journeys’ growth moving forward,” said Genesco CEO Mimi Vaughn during an earnings call.
The JCPenney in the Shenango Valley Mall also fought to stay open for years but is set to close in the next few months.
The two businesses had been in a legal dispute for years because the mall wanted to evict the retailer and renovate the property, which is located in Pennsylvania.
JCPenney sued the mall and the court eventually ruled in favor of Butterfli Holdings LLC, the owners of the mall.
It was the last anchor store in the mall after Macy’s and Sears closed in 2017.
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Also Read: A US Company Now Declares An Unexpected Bankruptcy
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