Earth Fare closing all grocery stores
Posted February 3, 2020 11:22 a.m. EST
Updated February 3, 2020 10:59 p.m. EST
Earth Fare, the specialty natural and organic grocery store, is closing all of its stores according to an announcement by the company on Monday, Feb. 3. They will begin inventory liquidation sales very soon and will continue to pursue a sale of assets, in whole or in parts.
"The inventory liquidation sales will feature a truly outstanding assortment of merchandise at very significant price reductions. We encourage shoppers 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," Earth Fare indicated in a statement.
According to the company, all employees have been notified of the upcoming closure of the company's stores and corporate office.
"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," the company wrote in their press release.
Earth Fare has implemented various strategic initiatives aimed at growth and expansion in the last few years.
"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," said Earth Fare.
The Asheville, North Carolina based company was founded in 1975 and has more than 40 locations across 10 states in the Southeast, mid-Atlantic, and Midwest.