• Join our newsletter for weekly news updates and blogs on-the-go!
X-twitter Facebook-f Google-plus-g Patreon Youtube
Financial News, Business News
  • News
    • U.S. News
  • Economy
  • U.S. Banking
  • Stock Market
  • Business
  • Retail Investors
  • Hedge Funds
  • Market Manipulation
  • Blog
  • About
    • Editorial Policy
    • Privacy Policy
Home/Banking News/An Unexpected Retailer Now Closes Stores in New Jersey
Market News Today - An Unexpected Retailer Now Closes Stores in New Jersey

An Unexpected Retailer Now Closes Stores in New Jersey

By Frank Nez
May 17, 2024
2

An unexpected retailer now closes stores in New Jersey due to what bosses are claiming is poor performance in the areas.

Gabe’s has announced the closure of two out of four stores in the south of New Jersey.

Along with it, the chain is laying off 52 employees as of August 12, a Worker Adjustment and Retraining Notification Act (WARN) filing states.

The stores in Cherry Hill and Mount Laurel have been selected for closure six years after they arrived.

In the WARN filing, Anna Ballard, senior corporate counsel for Gabriel Brothers, the parent company of Gabe’s, outlined the reason behind the closure.

Ballard warned customers that each location has suffered from “poor sales performance and [has been] operating at a consistent loss of profits.”

Ballard specified that 28 workers will be lost from Cherry Hill and 24 will be laid off from Mount Laurel.

They will each be paid and will continue to receive benefits for 90 days with the last payment scheduled for August 9, the filing states.

Each affected employee will be given one week of severance pay for each full year of employment with the discount chain.

The closures of the stores will leave just two other locations in New Jersey with one in Mays Landing and the other in Vineland.

These locations are not set to be impacted by the closures.

Gabe’s has stores in 20 states across the country.

For more store closure news and updates like this, opt-in for push notifications.

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

Other Economy News Today

Market News Today - An Unexpected Retailer Now Closes Stores in New Jersey.
Market News Today – An Unexpected Retailer Now Closes Stores in New Jersey.

Another massive retailer is now closing due to crime despite its location being a community staple for several years.

Rampant theft has led Walgreens to permanently close one of its major locations at the White Oak Shopping Center in Maryland, reports The-Sun.

Staff and shoppers told ABC affiliate WJLA-TV that the store was closed due to high rates of theft and crime.

Mobile security cameras were recently added by police in the parking lot around stores in the shopping center.

A source also told WJLA-TV that the shopping center’s management company had to fire their security company and hire a new one.

Just last year, there was an armed robbery inside Walgreens, resulting in a man and a woman taking an unknown amount of money and products.

Robberies have become a major problem in the area as stores get ransacked by violent thieves.

A resident told the outlet she was too scared to leave her car in the shopping center’s parking lot.

She says she saw another woman get assaulted and robbed.

“You can simply be walking and they take your purse and start running and they leave you with nothing,” said Sarah Rodriguez.

“That’s why when I’m here before I get out of my car I always look around first.”

Walgreens corporate execs announced earlier this year that about 150 stores will be closed throughout the US.

This would reduce the company’s corporate staff by about 10%, resulting in over 500 positions being eliminated.

News of a replacement for the store in the White Oak Shopping Center hasn’t been announced.

However, the center has been struggling to replace the Sears location that has sat vacant for over three years.

“Yeah, it’s not good, because everyone is complaining,” said resident Kokou Eafbo.

“This is the only pharmacy we have in this area and suddenly they close, we don’t understand.”

The shopping center had once been a thriving area full of shops in Montgomery County, reports The US Sun.

For more news and updates like this, opt-in for push notifications.

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

Market News Published Daily 📰

Market News Today - An Unexpected Retailer Now Closes Stores in New Jersey.
Market News Today – An Unexpected Retailer Now Closes Stores in New Jersey.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.

View Stock Portfolio

Recommended For You ✨

  • A Massive US Bank is Now Closing Credit Cards
  • A US Bank is Now Denying Customers Access to Money
  • SNAP Benefits Will Now Increase For The Year 2024
  • The US Treasury Direct is Now Freezing Customer Accounts
  • A Giant Company Now Announces Unexpected Layoffs in Virginia
  • Wells Fargo is Now Freezing Bank Accounts in New Scandal


Tags:

Business NewsFinance NewsInvesting NewsJPMorganMarket NewsStock Market News
Author

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.

Follow Me
Other Articles
Market News Today - Another Massive Company Now Warns of Layoffs in Ohio
Previous

Another Massive Company Now Warns of Layoffs in Ohio

Market News Today - Another Unexpected Fashion Company Now Files For Bankruptcy
Next

Another Unexpected Fashion Company Now Files For Bankruptcy

2 Comments
  1. Frank Nez says:
    May 17, 2024 at 5:53 pm

    Leave your thoughts below.

    Log in to Reply
  2. Frank Nez says:
    May 17, 2024 at 5:52 pm

    For more news and updates like this, opt-in for push notifications.

    Log in to Reply

Leave a Reply Cancel reply

You must be logged in to post a comment.

NEW POSTS

  • Major US Banks Are Now Launching a Stablecoin by 2027
    Major US Banks Are Now Launching a Stablecoin by 2027
  • Mortgage Rates Continue Rising Despite a Decline in Home Sales
    Mortgage Rates Continue Rising Despite a Decline in Home Sales
  • Online Business Ideas
    Online Business Ideas: 25 Businesses You Can Start in 2026
  • Citizens bank branch closures
    Citizens Bank Branch Closures Now Surge to 120 Locations
  • Pizza Hut Closing Locations
    Pizza Hut is Now Closing 250 Locations Nationwide
Unlock your personal brand ebook

Need to Reach Us? Email us at contact@franknezmedia.com

FrankNez is an independent news platform founded by American journalist Frank Nez, focusing on delivering real-time, data-driven news and reporting on various industries, including finance, economy, banking, business, and entrepreneurship.

Markets

  • Stock Market
  • Retail Investors
  • Hedge Funds
  • Market Manipulation
  • Cryptocurrency

Money

  • Personal Finance
  • U.S. Banking
  • Economy
  • Housing

Business

  • Business
  • Entrepreneurship
  • Retail
  • Bankruptcy
  • Layoffs

Company

  • Home
  • About
  • Editorial Policy
  • Privacy Policy
  • Newsletter
  • Advertise/Sponsorship
X-twitter Facebook Patreon Youtube Google-plus-g

© 2026 FrankNez Media, All Rights Reserved.

X-twitter Facebook-f Google-plus-g Patreon Youtube