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Spartan To Close Six Stores
BYRON CENTER — Spartan Stores Inc. plans to close one Michigan convenience store and five deep-discount food and drug stores in Ohio by the end of the month, the company announced Thursday.
The ExpressMart convenience store in Mason, acquired when Spartan purchased the Felpausch grocery chain earlier this year, will close. Others to be shuttered are The Pharm stores in Napoleon, Findlay, Bowling Green, Lima and Port Clinton, Ohio.
The closures will leave Spartan, a publicly traded grocery retailer and distributor, with 88 supermarkets and 14 stores under The Pharm banner. The company operates Family Fare Supermarkets, D&W Fresh Markets, Glen’s Markets and Felpausch Food Centers.
“These particular stores did not meet our performance criteria, were located in outlying markets with limited growth potential and had leases expiring in a relatively short time period,” Spartan Chairman, President and CEO Craig Sturken said in a statement.
The company noted that the five The Pharm stores combined generated net sales of $30 million, but recorded an operating loss of $400,000 during fiscal 2007. The sales of assets related to the targeted stores would amount to $800,000, the company stated.
Spartan spokeswoman Jeannne Norcross said the five The Pharm stores employ about 100. Some of them may transfer to other nearby stores in the chain. “We are optimistic that pharmacy employees will have employment opportunities at other local pharmacies,” she added. More than $1 million has been spent to upgrade The Pharm stores in other Ohio locations.