Schnuck Markets, Inc
Schnucks Announces the Close of Its Cordova, Tenn. Grocery Store
Fuel and convenience center to remain open
CORDOVA, Tenn. – Scott C. Schnuck, chairman and chief executive officer of Schnuck Markets, Inc., today announced plans to close the Schnucks store located at 1150 North Germantown Parkway in Cordova, Tenn. The final day of sales and the discontinuation of all programs and services will be Saturday, Aug. 28, at 6 p.m. The fuel and convenience center will remain open.
“When we entered the Mid-South market in 2002, we focused on providing the very best in products and services to our Cordova customers and hoped that over time, sales would improve,” said Schnuck. “However, in eight years, the competitive challenges are much greater. We are now facing increasing pressure from five competitors within a two-mile radius, including two supercenters. In our experience, grocery options in Cordova have well exceeded demand.”
“Despite the store team’s hard work and the loyalty of our customers, we don’t see this situation changing. Profitability is key when you are operating a penny margin business and hoping to bring the lowest possible prices to all customers,” Schnuck said. “We believe that it is in the best interest of our Mid-South customers and teammates to close this particular location and turn our attention to our other stores in the market.”
Schnucks says that all 79 Cordova Schnucks store teammates will be transferred to comparable positions at other store locations.
Customers will soon notice signs announcing the impending close. Pharmacy customers’ may have their prescriptions transferred to other Schnucks locations convenient to them including those in Germantown, Stonebridge and Bartlett. Schnuck says the teammates at all stores are committed to working together to minimize the inconvenience to Cordova customers.
In the meantime, representatives of Schnuck Markets, Inc. are seeking to lease the building or to sell the company’s leasehold interest. All interested parties should contact Karen Holman, vice president of asset management at The DESCO Group, at 314-994-4464.
At nearly 68,000 square feet, the Cordova store was built by Albertson’s and opened as a Seessel’s in 1999. Schnucks took ownership of the store in the Seessel’s acquisition in 2002.
Schnuck Markets, Inc., a family-owned company based in St. Louis, Mo., currently operates 106 stores including 104 in-store pharmacies in Missouri, Illinois, Indiana Wisconsin, Iowa, Mississippi and Tennessee. With 13 stores (including Cordova) and eight fuel and convenience centers, the Mid-South is the company’s second largest market.
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