CHANDLER, Ariz. — Bashas’ here is planning to close five locations, including its prototype Ike’s Farmers Market near Tuscon, the company’s president told SN. The news follows the announcement earlier this week that Bashas’ planned to lay off 350 workers.
“We have to lower our costs to continue to compete as effectively as we can,” said Mike Proulx, Bashas’ president.
In addition to Ike’s, Bashas’ is also closing two Bashas’ locations in the Phoenix area and two of its Hispanic-oriented Food City locations, one each in the Phoenix market and near Yuma, Ariz.
The company still plans to open three new stores this year, but is evaluating the viability of some planned locations in light of the sharp decline in the Arizona economy, driven the bursting of the housing bubble.
Proulx said despite the Ike’s closing, which he attributed to a poor location, the company was happy with the fresh-and-organic concept and could consider opening Ike’s in other areas in the future.
Read More of Today's Headlines