The Fresh Market, Inc. announced on Tuesday that it plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin.
The company says the decision was made following the completion of an organizational analysis and careful consideration of the overall growth strategy and long-term financial performance of the company.
"Over the last eight months, our company has been executing a turnaround plan and we've seen great progress. However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underpeforming," says Larry Appel, The Fresh Market's CEO. "We will work to relocate as many impacted employees as possible to other stores within our footprint."
The company says it does not expect any further store closures in the foreseeable future.
"Looking ahead, I am confident this move will better position The Fresh Market and enable us to continue delivering our great tasting meals, signature products and an incredible shopping experience," Appel says.