Pick ’n Save to Shutter Even More Stores This Summer, Lay Off 448

Judges or Auctioneer Gavel And Money On The Wooden Table

The footprint of Pick ’n Save, a leading grocer in Wisconsin, is about to get a lot smaller, with another raft of stores slated to close this summer. The firm said Pick ’n Save stores in Kenosha and Sheboygan will close by the end of June, leaving 169 employees out of work.

The two closures follow the announcement that the company will close four additional Pick ’n Save stores. So far, the six store closures will impact 448 employees.

On May 12, employees at two suburban Milwaukee Pick’n Save stores were told in an interoffice memo that their stores would close no later than June 16. The two locations employ 127 people.

On May 17, workers at the Pick ’n Save in Shawano learned that their grocery store will be closing, a move that will leave 65 employees without work. The closure will take place no later than June 23. This is just the latest blow to hit the Shawano Plaza, which lost both a J.C. Penney and a Kmart in recent years.

And at the end of May, employees at the Pick ’n Save at Timmerman Plaza in Milwaukee were told they would be out of work when the grocery store shutters its doors no later than June 23.

The six closures come just 18 months after Pick ’n Save’s parent company, Roundy’s Supermarkets Inc., which was struggling financially, was acquired by Kroger Co (NYSE:KR).

Cincinnati-based Kroger Co announced in November 2015 that it was acquiring Milwaukee-based Roundy’s for $866.0 million, or $3.60 per share, in cash. With the acquisition, Kroger became the largest grocery in metro Milwaukee.

Prior to the acquisition, Kroger had no operations in Wisconsin. The deal also gave Kroger a bigger market share in Chicago with Roundy’s upscale Mariano’s stores.

When the acquisition was announced in 2015, Rodney McMullen, the company’s Chairman and CEO, said there were no plans to close any Pick ’n Save stores. But, just nine months later and Kroger announced it was closing the Clarke Square Pick ’n Save on Milwaukee’s south side, leaving 77 without work.

Sources:

More Pick ’n Save stores to close this summer,” Milwaukee Business Journal, June 5, 2017.)

Two Milwaukee-area Pick ‘n Save stores closing next month,” BizTimes, May 15, 2017.

Shawano Pick ‘n Save closing its doors,” The Shawano Leader, May 19, 2017.

Timmerman Plaza Pick ‘n Save store to close,” BizTimes, May 30, 2017.

Kroger and Roundy’s Announce Definitive Merger Agreement,” Kroger Co, November 11, 2016.

Categories: Businesses Closed, News

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