Ukrop’s Super Markets announced last Friday that it will shutter its Roanoke, Virginia, store by the end of next month, with the closure representing a failed attempt on the part of the company to extend beyond its Richmond roots. The announcement also comes as rumors continue to circulate about the entire chain being on the Markey, and some reports that morale at the company has taken a major hit after months of speculation about the company’s future.
Referring to the Roanoke store closure, company president/CEO Robert S. Ukrop said in a prepared statement, “We wished it had worked out differently. It’s painful for many reasons.” The store is said by analysts to have suffered from a less than optimal location, tough competition from Kroger, and the realities of an economic recession.
This is the second store closed this year by Ukrop’s, the other one having been in Williamsburg. The company will still have two remaining store outside its home market – another one in Williamsburg, and one in Fredericksburg.
Referring to the Roanoke store closure, company president/CEO Robert S. Ukrop said in a prepared statement, “We wished it had worked out differently. It’s painful for many reasons.” The store is said by analysts to have suffered from a less than optimal location, tough competition from Kroger, and the realities of an economic recession.
This is the second store closed this year by Ukrop’s, the other one having been in Williamsburg. The company will still have two remaining store outside its home market – another one in Williamsburg, and one in Fredericksburg.
- KC's View:
- The folks at Ukrop’s aren’t saying whether this sale has anything to do with an impending sale of the company, but then again that’s not a real surprise since they haven't been saying much about anything lately. What we do know is that there are more than a few people in the organization who are waiting for the next shoe to drop, and that a sale of an unprofitable store certainly doesn’t preclude the possibility that the rest of the company might get sold.
