Another Massive Grocery Chain Now Confirms It Is Closing

Another massive grocery chain now confirms it is closing its doors for good at one of its prominent locations next month.

The shuttering Shop ‘n Save store in Lawrenceville, Pittsburgh, will close on May 13 and will be replaced by Aldi, it has been confirmed.

A statement released by the company with over 70 outlets revealed that the closure comes following an agreement between it and the landlord as its lease comes to an end.

Shop ‘n Save will be replaced by Aldi, a spokesperson confirmed when speaking to WTAE News.

However, a timeline for the opening is not yet known.

Employees at the location have been urged by Shop ‘n Save to apply for jobs at other branches nearby.

Lori Moran, the vice president of Ballmoney Real Estate Services, the company that owns the Lawrenceville Shopping Center confirmed the closure in the following prepared statement.

β€œThe Lawrenceville Shopping Center will continue to serve the many retail and service needs of Lawrenceville and surrounding communities and, with the subdivision of the Shop’n Save space, will add more jobs and another 21,000 square feet (as yet undetermined) retail user to the current mix, which includes fitness, veterinary, salon, staffing and variety stores.

The current owner of the Shop’n Save has been a terrific operator since taking over in 2018,” she added.

“And would have continued to serve our neighborhood for many years to come.”

Moran described its leaving as a “dynamic opportunity” for a new grocer to take its space in what is a “win/win situation for everyone involved, including the neighborhood.”

While the closure is due to the end of the lease, the store has recently been the subject of numerous health alerts, reports The-Sun.

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Also Read: This Massive Mall Retailer Now Closes For Good

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Market News Today - Another Massive Grocery Chain Now Confirms It Is Closing.
Market News Today – Another Massive Grocery Chain Now Confirms It Is Closing.

This massive bank is now closing more branches in Pennsylvania according to new data from the Office of the Comptroller of the Currency.

The latest bank branch closures in Pennsylvania are only part of a broader national trend.

Between 2017 and 2021, nearly 7,000 bank branches, or 9% of all branches closed, reports AS.

This decline in physical banking facilities has led to “banking deserts,” areas where access to traditional banking services is increasingly limited.

TD Bank has advised that it will be closing a total of four new branches in Pennsylvania:

  • 3760 FAIRVIEW STREET BETHLEHEM
  • 256 SOUTH YORK ROAD HATBORO
  • 4309 SKIPPACK PIKE SKIPPACK
  • ROMA CORPORATE CENTER ALLENTOWN

Most of the branches currently being shut are typically found in cities where another location exists, leaving customers with an office in case they require in-person assistance, reports AS.

For example, Bank of America is closing a branch in San Marcos, Los Angeles, and Anaheim, all home to additional locations.

However, the National Community Reinvestment Coalition highlights that branch closures can lead to a decrease in small business lending, an increase in reliance on less regulated financial services, and the loss of important commercial entities and job opportunities in affected communities.

Big banks such as PNC Bank and JPMorgan Chase filed for closing several of their branches in multiple states last year amid a troubling pattern of rising branch shutdowns over the several past years.

“This trend raises crucial questions about the future of banking, particularly for vulnerable and elderly customers who may find themselves disproportionately affected by these changes,” says Ash Jurberg.

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

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Market News Today - Another Massive Grocery Chain Now Confirms It Is Closing.
Market News Today – Another Massive Grocery Chain Now Confirms It Is Closing.

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