Balducci's Closing Underperforming Stores

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Balducci's Closing Underperforming Stores

04/06/2009
Balducci's, which is in the process of reorganizing its business, is closing four underperforming stores in Ridgefield, Conn.; Washington, D.C.; and New York City. The New York stores are the gourmet retailer’s two remaining stores in the city where the company got its start as a produce stand back in 1916.

According to published reports, the D.C. store will close in June, while the rest will end operations this month.

An earlier New York City location, on 6th Avenue and Eighth Street in Greenwich Village, closed in 2003.

The six other Balducci's stores, which are located in Greenwich and Westport, Conn.; Bethesda, Md.; Scarsdale, N.Y.; and Alexandria and McLean, Va. will continue to operate under the Balducci's banner, the Bethesda-based company, said, adding that all Balducci's coupons, Rewards Certificates and gift cards will still be accepted at all stores.

Although when contacted by Progressive Grocer, Balducci’s had no further comment beyond its official statement, the company said it was “look[ing] forward to making an exciting announcement about the six continuing stores soon.”

Bear Stearns Merchant Banking acquired Balducci’s in 2003.