Another massive grocery chain now announces painful closures after confirming it would be shuttering three major locations.
The parent company of Lowes Foods and Kj’s Market, Alex Lee Retail — Whole Foods rivals — has announced plans to close a total of three of its stores by the end of August.
The decision of its new store closures this year will affect a total of two Lowes Foods locations in North Carolina, one in Wilmington, and another major location in Raleigh.
It also includes a Kj’s Market in Moncks Corner, South Carolina.
In a press release issued on Tuesday, Tim Lowe, President of Lowes and Head of Retail at Alex Lee, said that the company is working to offer positions at other stores “where possible” for employees impacted by the closures, according to Grocery Dive.
While specific reasons for shutting down these locations were not provided, Lowe mentioned that the decision is part of a “broader growth strategy.”
Despite the store closures, Alex Lee is committed to investing in new locations and renovations.
The company recently completed upgrades to two Kj’s Markets in Florence, South Carolina, and plans to renovate a Kj’s Market on Kelley Street in Lake City, South Carolina, in the coming months.
Lowes Foods, which operates over 80 supermarkets in the Carolinas, continues to expand its presence, per the outlet.
The chain also opened a new store in Aiken, South Carolina, on Thursday, marking its entry into the Augusta, Georgia, metropolitan area.
So while the company is closing stores, upcoming openings are also scheduled for locations in Concord, Kannapolis, and Waxhaw, North Carolina, as well as in Indian Land and Lexington, South Carolina.
Earlier this year, the grocer also opened stores in Winterville and Pittsboro, North Carolina.
“Alex Lee Retail is deeply committed to providing an exceptional shopping experience for our guests, and we are excited about the future of Lowes Foods, Kj’s Market, and our IGA locations as we continue to invest and build for future growth,” Lowe said in the announcement.
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Other Economy News Today
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.
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