Acme Markets Closing 5 Local Stores
PHILADELPHIA (CBS) - Acme markets plans to close five stores, two in the Philadelphia area and three in South Jersey, by the end of February.
Acme stores in Limerick and Wayne in Pennsylvania, and Cinnaminson, Millville, and Moorestown in New Jersey are targeted for closing.
Wendell Young IV, president of the United Food and Commercial Workers Local 1776, says union officials received word of the closings from Acme's parent company, Super Valu Inc. earlier this week. Some 240 retail clerks are affected by the store closings.
Young blamed Super Valu for poor management of Acme.
"They were primarily a wholesaler and a supplier when they bought this big chunk of Albertson's, which included Acme, and their core business was not a retailer," he said. "And, in today's market at how competitive retail is, you need to be a really sharp retailer."
ACME released this statement about the closing, saying, "Given the competitive markets we operate in, and today's difficult economic environment, it is occasionally necessary to close those stores that are not profitable."
Young says competition from Shop Rite, Wegman's and other retailers is eating into Acme's business.
Many dedicated shoppers were disappointed to hear the news.
"I've tried all the local markets and always come back to ACME," said shopper Suzanne Shneider.
ACME is not the only supermarket chain facing financial troubles. A&P filed for Chapter 11 bankruptcy two weeks ago.
Reported by Mark Abrams, KYW Newsradio; Oren Leibermann, CBS 3
