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Home/Banking News/A Tennessee Grocery Store Now Makes An Unexpected Closure
Market News Today - A Tennessee Grocery Store Now Makes An Unexpected Closure

A Tennessee Grocery Store Now Makes An Unexpected Closure

By Frank Nez
July 17, 2024
2

A Tennessee grocery store now makes an unexpected closure after abruptly shuttering due to a ‘significant amount of shoplifting’.

Save-A-Lot shoppers were alerted of the store closure via a note on the door.

The Save-A-Lot at South Perkins Road and Knight Arnold Road in Memphis, Tennessee had to shut its doors due to rampant theft, per local CBS affiliate WREG.

“I was surprised,” said local shopper Temeka Jones.

“I’m like, what kind of theft?”

She shared that she had stopped by the grocer on July 16 when she was met with a sign alerting customers of the closure.

“Apologies for the inconvenience but this location is closed due to theft,” read the sign.

The Save-A-Lot owner shared with WREG that he tried to salvage the Memphis location but could not due to high theft and low sales.

He also shared that the store was losing more money than his other eight stores combined.

The leftover groceries will be distributed to other Save-A-Lots to prevent food waste.

There are around 900 Save-A-Lot stores in 32 states.

Customers said that local crime negatively affects businesses and residents in the area by forcing them to find alternative places to shop.

Other stores are generally further away, with the nearest Save-A-Lot being on Getwell and Park, reports The US Sun.

The Save-A-Lot takes nine minutes by car but is a much longer trek for those without transportation.

“Save-A-Lot is a store we like to go to for its prices,” said customer Shandra W.

“A lot of people walk in this area. So, it is definitely going to affect the community a lot.”

Grocery shoppers at Fresh Market will also lose out on two locations.

The popular grocer will soon shutter its locations at 3468 Lithia Pinecrest Road in Valrico, Florida, and the Fresh Market on US Highway 280 in Birmingham, Alabama.

Fresh Market shared in an official statement that the decision to close the locations came after a “regular review” and “detailed organizational analysis.”

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - A Tennessee Grocery Store Now Makes An Unexpected Closure.
Market News Today – A Tennessee Grocery Store Now Makes An Unexpected Closure.

A beloved grocery chain now confirms unexpected closures across the Northeast taking place by the end of the year.

Grocery chain Stop & Shop has announced that a total of 32 underperforming locations will shutter in the U.S.

The company said the select stores across the Northeast will be closed before the end of the year.

Stores in New Jersey, Massachusetts, New York, Connecticut, and Rhode Island will close by November 2.

In May, the company announced the coming store closures.

“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” company president Gordon Reid said, per a July 12 press release.

The company’s president added that the closures were essential “to create a healthy base for the future growth of our brand.”

Fortunately, employees will be offered other positions within the company, according to a press release.

The grocery outlet first opened in 2014 and currently has around 400 stores and 60,000 employees, per Fox affiliate KRLD.

Stop & Shop is owned by Ahold Delhaize which also owns Food Lion, Giant Food, and Hannaford.

Which grocery stores are closing?

In New Jersey, 10 locations will close, while only seven will close in New York.

Rhode Island will see two closures and Massachusetts, the home of the first location, will be closing eight.

Five stores will also be closing in Connecticut.

As other chains such as Walmart and Amazon join the grocery business, it has pushed traditional grocery stores out of view, reports The-Sun.

Stop & Shop hopes the closure of underperforming stores will create “future growth” for the company.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - A Tennessee Grocery Store Now Makes An Unexpected Closure.
Market News Today – A Tennessee Grocery Store Now Makes An Unexpected Closure.

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Frank Nez

Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news publication, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.

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  1. Frank Nez says:
    July 17, 2024 at 5:54 pm

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  2. Frank Nez says:
    July 17, 2024 at 5:54 pm

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