GRAND RAPIDS, MI -- As an outcome of its strategic review process, Spartan Stores, Inc. announced today that it will be closing 13 Food Town retail grocery stores principally located in Toledo and outlying areas. The decision to close the stores was one of the options considered by the company for its 39 grocery stores under its previously announced strategic evaluation process. The 13 stores fell short of the company's financial performance targets and were adversely affecting operating cash flow. The options being considered for the remaining 26 Food Town stores include a sale to other retail grocery operators and/or the conversion of select stores to other formats.
"Excessive retail grocery store capacity in the Toledo area market has made it difficult for many grocery operators to maintain profitable operations," said Craig C. Sturken, Spartan Stores' President and CEO. "The decision to close the stores will help strengthen our overall competitive retail market position."
Locations of the 13 stores being closed are:
- Main Street, Toledo
- W. Alexis Road, Toledo
- E. Ford Street, Maumee
- Lewis Avenue, Toledo
- Secor Road, Toledo
- Navarre Avenue, Oregon
- Airport Highway, Toledo
- Monroe Street, Toledo
- Sylvania Avenue, Toledo
- S. Main Street, Bowling Green
- Woodville Road, Northwood
- Sylvania Avenue, Sylvania
- W. Perkins Road, Sandusky
