• The Saker family, which founded NJ-based Foodarama Supermarkets in 1958 and owns 51 percent of the company’s stock, has submitted a buyout offer to purchase the rest of the company.
Company management is considering the offer, which is dependent on the Saker family being able to acquire at least 90 percent of the company and on approval being given by the Wakefern cooperative, to which Foodarama belongs.
• The London Sunday Times reports on Tesco deciding to close down one of its stores, in Dundrum, in South Dublin. The reason – it has a newer, bigger store nearby that has made the smaller unit unnecessary.
This move, in fact, is consistent with a pattern that Tesco has been pursuing in Ireland. It has closed three stores in the last year because bigger stores were handling the traffic.
Company management is considering the offer, which is dependent on the Saker family being able to acquire at least 90 percent of the company and on approval being given by the Wakefern cooperative, to which Foodarama belongs.
• The London Sunday Times reports on Tesco deciding to close down one of its stores, in Dundrum, in South Dublin. The reason – it has a newer, bigger store nearby that has made the smaller unit unnecessary.
This move, in fact, is consistent with a pattern that Tesco has been pursuing in Ireland. It has closed three stores in the last year because bigger stores were handling the traffic.
- KC's View:
