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FrankNez - Retail News, Financial News, Economy News, Stock Market News, Business News About FrankNez FrankNez

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Latest
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Home/Banking News/An Unexpected Grocery Store Now Closes After 40 Years
Market News Today - An Unexpected Grocery Store Now Closes After 40 Years

An Unexpected Grocery Store Now Closes After 40 Years

By Frank Nez
May 13, 2024
2

An unexpected grocery store now closes after 40 years in business, leaving several of its customer with mixed emotions.

Nojaim Brothers served the people of Marcellus, New York for 42 years before closing for good over the weekend.

A post was shared on Facebook announcing the closure on Tuesday, only days before it shuttered forever on May 11.

“It is with a heavy heart and many mixed emotions that I attempt to find the right words to put in this post,” Nojaim Bros of Marcellus stated.

“Unfortunately I’m kind of at a loss for them right now, so I’m just going to rip the band aid off and let everyone know that our last day of business will be Saturday, May 11th.”

The store included a special message for its beloved shoppers.

“To all of our customers: there are just no words that can properly express my gratitude to you. The support you have shown us for the last 40+ years has been absolutely incredible,” the post went on to say.

“Marcellus is an amazing community with fantastic people, and from day 1 you took me in as one of your own.

You have given me a lifetime of the fondest memories and I could not be more proud to represent and serve Marcellus.

From the bottom of my heart, THANK YOU!”

Appreciation for its employees wasn’t left out of the post, either.

“To employees and coworkers past and present: thank you for everything! Your hard work, commitment and loyalty is the reason we are still here,” the store said on Facebook.

“Whether it was a regular day, the busy holiday season, a pandemic, or the uncertainty of these last few months, you showed up to work with a smile on your face ready to serve the people.

As much as I will miss everyone, I know you will move on to bigger and better things in your journey through life, and I can’t thank you enough for letting me be a part of it!”

The owner of the grocery store, Richard Nojaim, told local NBC affiliate WSTM-TV about plans to retire.

He said that he has the option to sell the market to a Saratoga Springs-based convenience store chain named Stewart’s Shops.

Marcellus neighbors who conveniently shopped at the market will now have to travel a little further, to Skaneateles or Camillus, to get their groceries, according to WSTM-TV.

Over 400 people reacted to the Facebook announcement made by Nojaim Bros of Marcellus.

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

Other Economy News Today

Market News Today - An Unexpected Grocery Store Now Closes After 40 Years.
Market News Today – An Unexpected Grocery Store Now Closes After 40 Years.

A whopping 3,000 retail stores will now close this year after popular clothing brands Rue21 and and Express announced their closures.

The list now grows to approximately 3,100 stores shutting down by the end of this year, per The-Sun.

And this number figure is expected to grow as more businesses announce closures throughout the remainder of the year.

Rue 21 recently announced bankruptcy and a plan to close all 540 remaining stores across the US in the next six weeks.

Express also announced plans on closing over 100 stores across the US in addition to a store closure in Central New York.

If the rising rate of retailers closing down stores continues, an estimated 8,000 locations will be closed by the end of the year.

That many closures would be 40% more than the US saw last year.

In 2023, over 4,000 retailers shut down stores, which was twice the amount of store closures from 2022, according to the National Retail Federation.

2023 also saw the closing of hundreds of Bed, Bath and Beyond stores after the major retailer filed for bankruptcy.

The retailer cited inflation as the primary reason for shutting down its in person stores, moving to an online only format.

The inflation rates from January 2023 to January 2024 increased by 3.1%, with food prices rising by 2.6%, as reported by the Bureau of Labor Statistics.

In response to the rising rate of inflation, many stores are raising prices or risk closing.

One Canadian supermarket, Loblaws, raised its food prices so dramatically that customers are staging a boycott for the whole month of May.

The Dollar Tree, a retailer known for everything in its stores being $1 or less, announced that it will be raising prices on certain items to as high as $7.

“This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” the company’s CEO, Rick Dreiling, said during an earnings call.

The last time the discount chain announced a price hike was in 2021 when prices on select items went from $1 to $1.25.

Aside from raising its prices, Dreiling also announced that over 1000 stores will most likely be closing in 2024.

Other major retailers such as Walgreens, Walmart, and JCPenney announced major closures this year.

Walmart announced store closures in California, Ohio, and Maryland–totaling to six closures so far this year.

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

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Market News Today - An Unexpected Grocery Store Now Closes After 40 Years.
Market News Today – An Unexpected Grocery Store Now Closes After 40 Years.

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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:
    May 14, 2024 at 12:00 am

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  2. Frank Nez says:
    May 14, 2024 at 12:00 am

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