Treasure Island Foods will close its six locations by Oct. 12, reports the Chicago Tribune. The family-owned Chicago chain of European-style supermarkets, which sells domestic and imported foods, is closing amid heavy competition from other grocers.
“We have done everything we could to attempt to get the company on solid ground to try to operate for another 55 years,” said Treasure Island CEO Maria Kamberos in a note to employees. “Unfortunately, given the current industry conditions, it has been impossible for us to continue to operate without losing money.”
Treasure Island is the latest victim of Chicago's intensely competitive grocery industry. After Dominick's closed in 2014, a slew of newcomers flooded into the city to compete for market share, and the growth of online grocery sales and delivery also has pressured retailers, according to the report. Full Story
Related: Sunflower Market: Taking the Bite Out of Organics; Meet the New Convenience Store.
from Specialty Food News https://ift.tt/2Oq0YH6
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