Another grocery chain now makes an unexpected closure, ceasing all operations after failing to restructure its business according to filings.
Choice Market, an upscale grocery chain based in Denver, has permanently closed its doors after unsuccessful attempts to restructure the business, as announced by CEO Mike Fogarty in a LinkedIn post on October 7.
“This is a difficult message to share, but after several months of exploring a potential reorganization, we regret to inform you that Choice is closing for good,” Fogarty stated.
He expressed gratitude to investors, employees, suppliers, friends, and family for their support in pursuing the mission of providing convenient access to quality food.
The company initially filed for Chapter 11 bankruptcy protection on May 6, 2024, in hopes of reorganizing and securing new financing following challenges stemming from the Covid-19 pandemic.
Founded in 2017, Choice Market had intended to shift away from its upscale urban grocery model and sell off all but one location, focusing instead on smaller mini-mart formats.
Fogarty had mentioned plans to launch this new direction within six to nine months, but ultimately, the strategy did not succeed, leading to the decision to cease operations.
The grocery chain faced escalating costs for goods and labor due to inflation, which it could not manage.
Known for combining quick service, user-friendly technology, and healthy products, Choice Market had expanded to five locations last year before encountering significant financial difficulties that led to its closure.
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