US retailer Smart & Final announced yesterday (16 November) it will close its five value-focused SmartCo Foods outlets in Denver, Colorado.
The company launched the banner in the city five months ago, offering a value-focused grocery proposition, which it said blends “the best features of a local supermarket, warehouse club store and farmer’s market”.
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Smart & Final president Dave Hirz said: “Despite our best efforts, the level of sales achieved in the SmartCo Foods stores after several months did not meet our goals and is not sufficient to sustain continued operations.”
The company said all five stores will begin store closing sales that the company expects to last around four weeks.
Smart & Final said it would be opening its first SmartCo store in its home state of California later this week.
“While we regret having to close these stores and the impact this will have on our Colorado employees and customers, we remain committed to the SmartCo Foods concept and will open stores under the SmartCo Foods banner in other markets where we believe the concept will be successful,” said Hirz.
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By GlobalData
