Last Updated on February 3, 2020 6:10 pm
Earth Fare announced on Monday that they will begin inventory liquidation sales at all of its stores.
“Earth Fare has been proud to serve the natural and organic grocery market, and the decision to begin the process of closing our stores was not entered into lightly. We'd like to thank our Team Members for their commitment and dedication to serving our customers, and our vendors and suppliers for their partnership,”, the company said in a statement.
Over the course of the past few years, the Company has implemented numerous strategic initiatives aimed at growth and expansion and enhancing the customer experience, the Asheville based company also said.
Pursuant to the Worker Adjustment and Retraining Notification Act (WARN), all employees have been notified of the impending closure of the company's stores and corporate office. During this time, the Company will continue to pursue a sale of assets, in whole or in parts.
According to SuperMarket News, Earth Fare has about 3,000 employees and operates 50 stores in 10 states, including Alabama (two), Florida (14), Georgia (three), Indiana (one), Michigan (one), North Carolina (13), Ohio (three), South Carolina (six), Tennessee (five) and Virginia (two).
“While many of these initiatives improved the business, continued challenges in the retail industry impeded the company's progress as well as its ability to refinance its debt. As a result, Earth Fare is not in a financial position to continue to operate on a go-forward basis. As such, we have made the difficult, but necessary decision to commence inventory liquidation sales while we continue to engage in a process to find potential suitors for our stores,” the company also said in the statement.
The company added that the inventory liquidation sales will feature a truly outstanding assortment of merchandise at very significant price reductions. We encourage shoppers to visit their nearby location now and take advantage of these savings before it's too late. Store fixtures are also available for sale as part of this process.
