Grocery Chain Bankruptcy Could Close More Hudson Valley Stores
Reports of a possible grocery chain bankruptcy means your local supermarket could be closing in 2018.
After so many retail closures this past year, we've all become used to hearing the news that our favorite Hudson Valley store may be closing. But when it's a grocery store it's not so easy to shrug off the news and just plan on purchasing things online. It means having to find a new grocery store, usually much further away from home.
That's the harsh reality many Hudson Valley families may be facing this year after another supermarket chain has reportedly been preparing for bankruptcy. Bloomberg reports that Bi-Lo LLC, the owners of Tops Friendly Markets and Winn-Dixie, will likely announce their corporate restructuring plans in the coming weeks.
The company is apparently lumbering under $1 billion in debt and, like other grocery stores, needs to compete with supermarket newcomer Amazon which recently purchased Whole Foods and is offering innovative customer service, such as two-hour home delivery.
Tops has already closed one Hudson Valley location. The store on Route 9 in Wappingers Falls announced it was shutting its doors in November, laying off 83 local employees. The potential bankruptcy filing could mean more store closings in our area. It's also possible the company could restructure its debt and keep stores open. After Toys R Us announced their bankruptcy they decided to close down the Kingston location but kept open it's Poughkeepsie store.
Tops Friendly Markets currently has four Hudson Valley locations on Main Street in New Paltz, Route 9 in Rhinebeck, John J Wagner Way in LaGrangeville and Route 6 in Carmel.