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The Fresh Market to shut 15 stores

Specialty grocer says move is part of turnaround effort

Russell Redman

July 10, 2018

2 Min Read
The Fresh Market
The Fresh Market

The Fresh Market Inc. plans to close 15 stores in nine states as the company proceeds with its turnaround plan.

The Greensboro, N.C.-based specialty grocery chain said the locations are slated to shut down in two to four weeks. They include four stores in Illinois, two in Georgia, two in Virginia, two in Wisconsin and one each in Indiana, Kentucky, North Carolina, New Hampshire and Tennessee.

According to The Fresh Market, the closings stem from an organizational analysis and “careful consideration” of the company’s growth strategy and long-term financial performance.

“Over the last eight months, our company has been executing a turnaround plan, and we’ve seen great progress. However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term underperforming stores,” Chief Executive Officer Larry Appel said in a statement.

The Fresh Market will work to relocate impacted employees to other stores, he added. The company reported that it doesn’t expect more store closures “in the foreseeable future.”

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“Looking ahead, I am confident this move will better position The Fresh Market and enable us to continue delivering our great-tasting meals, signature products and an incredible shopping experience,” Appel added.

Currently, The Fresh Market operates 176 stores in 24 states. The chain has enacted a series of store closings in recent years as the company refocused expansion plans for its fresh gourmet concept and intensifying brick-and-mortar and online competition bit into sales.

In April 2017, The Fresh Market announced the closure of five stores in Florida, Illinois, New Jersey, New York and Virginia. That came roughly a year after the retailer unveiled plans to shutter 18 stores, including all of its locations in Texas, Iowa, Missouri and Kansas.

After going public in 2010, the specialty grocer was taken private in April 2016 by private investment firm Apollo Global Management in a $1.36 billion buyout.  

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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