A round of painful store closures now hits New Jersey as another major grocery chain announces it is shuttering nearly a dozen stores.
Recent announcements regarding the closure of Stop & Shop locations in New Jersey have not caught shoppers by surprise.
Many had anticipated these shutdowns, although they now have a few weeks left to stock up on essentials.
In a press release from July, the supermarket chain revealed plans to close 32 stores nationwide by the end of 2024, with at least 10 of those in New Jersey.
Residents in the Garden State have until November 2 to shop at these stores before they permanently close.
However, some locations may shut down sooner; for instance, a Stop & Shop in Philipsburg closed last week after moving its closing date up to October 23, following an earlier change to September 9, according to TAPinto.
Managers at this store reported depleting food and merchandise supplies faster than expected, suggesting similar situations could arise at the remaining locations.
Community reactions vary, with some customers expressing sadness over the closures, while others show indifference or relief.
One shopper noted the challenges posed by nearby competitors like Target and Walmart, stating, “I’m surprised it lasted this long.”
Conversely, another customer commented, “Good riddance.”
Stop & Shop has confirmed that employees at the closing stores will have the option to transfer within the company.
Despite the closures, the chain will maintain 48 stores across New Jersey, as indicated on their website.
The remaining store shutdowns will affect locations in Connecticut, Massachusetts, New York, and Rhode Island.
With over 350 stores in five states, Massachusetts boasts the highest number at 124.
Gordon Reid, president of Stop & Shop, reassured customers that the company remains dedicated to serving the communities where they operate.
“Stop & Shop is proud of the deep roots and community ties we have developed as a neighborhood grocer of more than 100 years,” he stated, emphasizing the commitment to their associates and customers.
Reid also noted that the 32 closing stores were deemed “underperforming,” a decision aimed at creating a healthier foundation for future growth.
He acknowledged that the company is “not where we want to be.”
This wave of closures comes amid broader trends in retail, as other major retailers face their own challenges.
Big Lots has recently filed for Chapter 11 bankruptcy, leading to the planned shutdown of 315 stores across 35 states, while a Home Depot rival is set to close over 200 locations after filing for bankruptcy in August.
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Also Read: A Struggling Gas Station Chain Now Files An Unexpected Bankruptcy
Other Economy News Today
A massive rental company with 34k locations now shuts down its operations after filing for bankruptcy and 22 years in business.
Users of movie rental company Redbox were left saddened after it was announced that it would be shutting down operations.
The announcement comes after the rental company’s parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy.
According to court documents obtained by the Washington Post, the Connecticut-based company claimed to be one billion dollars in debt.
As a result, Redbox, which was a staple of many grocery stores including Walgreens, and CVS will be shuttered.
Many fans took to social media to express how upset they were with the loss.
“I knew it was coming, sadly,” UltraVada wrote in a post on X, formerly Twitter.
“It was inevitable,” a second person mourned.
“I knew this would happen when I heard they filed for Bankruptcy but its still sad to hear. I have a lot of fun memories of Redbox,” a third person lamented.
“I still don’t think this will be or ever be the end of physical media as we do still get remasters of some movies in 4k/Bluray.”
One person revealed that they had forgotten the rental service had existed.
Some users were not surprised by the announcement.
“Not surprised since nobody really rents videos anymore with the rise of streaming and what not,” one user admitted.
“Also kinda remember getting into a feud with them on here.”
One user also pointed out that the last remaining Blockbuster, located in Bend, Oregon, managed to outlive Redbox.
Redbox was acquired by Chicken Soup for the Soul Entertainment (CSSE) in 2022 and became one of the company’s flagship video-on-demand streaming services.
At its peak, CSSE operated more than 20,000 DVD rental kiosks across the country.
The company’s filing means that the company’s more than 1,000 employees will be laid off, per The Wall Street Journal.
It was also reported by Deadline that many employees at CSSE hadn’t received their paychecks and had medical benefits cut in late June.
Also Read: This Massive Mall Retailer Is Now Closing In California
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