Rachel DePompa – Ukrop’s is moving out of Roanoke, Virginia. The grocery chain is closing its only store in that area. The Ivy Market store has only been open for a little more than two years. Just one more sign that Ukrop’s may be positioning itself for a sale. The Ivy store struggled to catch on in Roanoke. So why not cut your losses and make the deal sweeter for a potential buyer? This is an interesting development.
Here’s the press release:
Ukrop’s to Close Ivy Market Store
RICHMOND, Va. – Sept. 18, 2009 – Ukrop’s Super Markets, Inc. today announced it will close its Ivy Market store, located at 2331 Franklin Road, Roanoke, Va., on Saturday, Oct. 24, 2009.
The First Market Bank branch in this store will remain open until Friday, Dec. 18, 2009.
“We are making this announcement this afternoon after talking with store leadership about this tough decision,” said Ukrop’s Chairman, President and CEO Bobby Ukrop. “We wish it had worked out differently. It’s painful for many reasons, not the least of which is that we will no longer be able to offer employment to associates who have diligently served Ivy Market customers.
“We are grateful to the Roanoke Valley customers who have loyally supported us with their business and will do our best during the next five weeks to provide the quality fresh food and superior customer service they have come to expect from Ukrop’s,” added Ukrop.
About Ukrop’s : Ukrop’s Super Markets, Inc., founded and headquartered in Richmond, Va., with more than 5,500 associates, operates 27 retail food stores (26 after the Roanoke store closing), Joe’s Market (a regional specialty market), a central bakery and kitchen, and a distribution center. Since 1937, the privately held business remains dedicated to its version of the Golden Rule: “treating customers, associates, and suppliers as they personally want to be treated.” Each year, Ukrop’s gives a minimum of 10 percent of its pre-tax profits back to the community. Ukrop’s was a pioneer in both loyalty marketing and meal solutions when it launched its Valued Customer® program in 1987 and its chilled prepared foods in 1989. In 1997, Ukrop’s established a unique partnership to place banks in its retail locations. Today, it co-owns, with Markel Corporation, 25 First Market Bank branches in Ukrop’s locations and 14 free-standing branches.
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