An unexpected grocery chain is now closing in Missouri after ‘significant analysis and evaluation’, the company confirmed on Friday.
Schnuck Markets announced Friday it is abandoning Eatwell Market, a banner focused on natural and organic foods with two stores in Missouri.
The Midwestern grocery chain said it is converting the Eatwell store in Columbia to its traditional format and closing the location in Chesterfield on June 2.
Schnucks debuted the format with the Columbia store in 2020.
Schnucks decided to close the locations “after significant analysis and evaluation of what we could do to make each store more successful during current economic conditions,” Chairman and CEO Todd Schnuck said in a statement.
Schnucks’ decision to abandon the Eatwell format represents a sudden course change for the Midwestern grocery chain, which opened the banner’s second location just last year, reports Grocery Dive.
When it opened in March 2023, Schnuck described that location, which occupies 30,200 square feet and marked the concept’s debut in Schnucks’ home market of the St. Louis area, as a way to offer “shoppers a store where they can stay focused on health and wellness while also discovering new, local items.”
Schnucks opened the first Eatwell location in June 2020 on a 41,700-square-foot site in Columbia that formerly housed a Lucky’s Market store.
The grocer said Friday that it ultimately decided to walk away from the Eatwell format despite its desire to innovate.
“As a company, we embrace trying new things and learning from our experiences to improve future store designs, operations, merchandising and marketing,” Schnuck said.
Aside from its signature banner, which encompasses most of its stores, Schnucks also operates Schnucks Fresh, a pair of small-format stores focused on products in departments like produce, seafood, deli, bakery and meat.
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
A massive clothing retailer is now closing all 540 stores in just six weeks after unexpectedly filing for bankruptcy.
Liquidation sales will be held at rue21 outlets across the US as bosses rush to clear the last remaining stock.
The clothing retailer has entered bankruptcy and bosses have announced plans to close all 540 remaining stores within six weeks, reports The US Sun.
It is the third time in less than 25 years the fashion retailer has entered bankruptcy, per Bloomberg.
Court documents seen by Reuters revealed the company has more than $190 million of debt.
The chain has 540 stores across the US and 4,900 workers are set to be impacted.
Outlets are to slam shut within four to six weeks, according to court papers.
Bosses also announced plans to sell the company’s intellectual property.
The company narrowly avoided going into bankruptcy in October 2022.
Chiefs filed for bankruptcy in 2017 as they rushed to clear around $700 million worth of debt.
Bosses shuttered 400 stores as well and renegotiated leases.
Execs identified the rise of online shopping and changing consumer trends as reasons behind the bankruptcy.
Michele Pascoe, the interim CEO, also alluded to the impacts of competition and inflation.
The company also filed for bankruptcy in 2002.
At its peak, the company had more than 1,000 stores across the US.
The chain has dozens of outlets across several states, including Florida, Georgia, Illinois, North Carolina, Pennsylvania and Texas.
The teen fashion retailer is not the only clothing chain that has entered bankruptcy over the past year.
Last month, Express chiefs filed for bankruptcy, and at least 100 stores are set to close.
Also Read: Retirees Will Now Receive More Money For Social Security
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