New Hope Network is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

earth-fare.png

Earth Fare prepares to close all stores, seeks buyers

Following in the footsteps of Lucky's Market, natural grocer Earth Fare is shutting down 50 locations and liquidating its inventory.

Earth Fare, the authentic specialty natural and organic grocery store and full-service supermarket, announced today that it will begin inventory liquidation sales at all of its stores. Pursuant to the Worker Adjustment and Retraining Notification Act (WARN), all employees have been notified of the impending closure of the company's stores and corporate office. During this time, the company will continue to pursue a sale of assets, in whole or in parts.

"Earth Fare has been proud to serve the natural and organic grocery market, and the decision to begin the process of closing our stores was not entered into lightly. We'd like to thank our Team Members for their commitment and dedication to serving our customers, and our vendors and suppliers for their partnership," said Earth Fare.

Over the course of the past few years, the company has implemented numerous strategic initiatives aimed at growth and expansion and enhancing the customer experience.

"While many of these initiatives improved the business, continued challenges in the retail industry impeded the company's progress as well as its ability to refinance its debt. As a result, Earth Fare is not in a financial position to continue to operate on a go-forward basis. As such, we have made the difficult, but necessary decision to commence inventory liquidation sales while we continue to engage in a process to find potential suitors for our stores," added Earth Fare.

The inventory liquidation sales will feature a truly outstanding assortment of merchandise at very significant price reductions. Shoppers are encouraged to visit their nearby location now and take advantage of these savings before it's too late. Store fixtures are also available for sale as part of this process.

Source: Earth Fare

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish