The Fresh Market, Inc., a North Carolina-based specialty grocery chain, announced this week that it will be closing 15 stores nationwide.
Over the next two to four weeks, Fresh Market stores from Georgia to Wisconsin will close. The company said in a statement that it will do its best to “relocate as many impacted employees as possible to other stores within our footprint.”
The impacted stores, according to The Fresh Market, were selected after an analysis of long-term growth.
“Over the last eight months, our company has been executing a turnaround plan, and we’ve seen great progress,” Fresh Market CEO Larry Appel said in a statement. “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.”
Currently, The Fresh Market operates 176 stores across 24 states, and it is predominantly found in the Southeast. In 2016, the chain was purchased for around $1.36 billion by the private equity firm Apollo Global Management.
The Fresh Market has faced stiff competition against other high-end grocery chains that have similar offerings, but with a lower price point, the Chicago Tribune reports. However, the company said it doesn’t anticipate additional store closures in the near future.
“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 said.
Here are a list of the stores that are closing:
- Snellville, GA
- North Druid Hills, GA
- Peoria, IL
- Normal, IL
- Glen Ellyn, IL
- Lincolnshire, IL
- Fishers, IN
- Louisville, KY
- North Charlotte, NC
- Bedford, NH
- Hendersonville, TN
- Winchester, VA
- Charlottesville, VA
- Brookfield, WI
- Fox Point, WI