Schnucks to Close Memphis-area Market
Faced with increasing competitive pressure, Schnuck Markets Inc. will close its store in the Memphis, Tenn., suburb of Cordova.
The store on North Germantown Parkway will close Aug. 28, while the fuel and convenience center will remain open, the St. Louis-based grocer said.
“It’s an unusual situation in a highly competitive marketplace,” Schnucks spokeswoman Lori Willis told Progressive Grocer. Since the chain entered the Mid-South market in 2002, competition has become much greater, with five competitors within a two-mile radius, including two supercenters.
“In our experience, grocery options in Cordova have well exceeded demand,”said Scott Schnuck, chairman and CEO. “Despite the store team’s hard work and the loyalty of our customers, we don’t see this situation changing. We believe that it is in the best interest of our Mid-South customers and teammates to close this particular location and turn our attention to our other stores in the market.”
The 79 Cordova store associates will be transferred to comparable positions at other store locations. Pharmacy customers can transfer prescriptions to other Memphis-area locations in Germantown, Stonebridge or Bartlett.
At nearly 68,000 square feet, the Cordova store was built by Albertsons and opened as a Seessel’s in 1999. Schnucks took ownership of the store when it acquired Seessel’s in 2002.
Schnuck Markets Inc. operates 106 stores in Missouri, Illinois, Indiana Wisconsin, Iowa, Mississippi and Tennessee. With 13 stores and eight fuel and convenience centers, the Mid-South is the company’s second-largest market.