Specialty grocer Fresh Market announced Monday it is closing its two
Milwaukee-area stores in the next two to four weeks. The move
signals further changes at Brookfield Square.
Carolina-based Fresh Market Inc. operates two stores locally —
Brookfield and Fox Point. Both join a list of 15 locations in eight
states winding down operations this summer.
In a statement,
Fresh Market CEO Larry Appel said the company has been “executing a
turnaround plan” in the past eight months after contending with
great progress,” Appel said in the statement. “However, for a
variety of reasons unique to each retail location, that progress is
not evenly distributed. As a result, we have decided to close these
long-term, underperforming stores.”
Brookfield area, Fresh Market faces stiff competition in the
high-end specialty grocer space. Peer retailers in close proximity
to the Brookfield Square location include Fresh Thyme, Metro Market,
Sendik’s and Trader Joe’s.
location, 15895 W. Bluemound Road, is on a northerly outlot of the
mall, which is going through a series of comings and goings as the
retail landscape undergoes wide-ranging shifts.
Store is winding down operations and will close next month. Vici
Capilli also ceased operations late last month.
south-facing Sears site, which closed in March, is undergoing
extensive redevelopment as new restaurants and entertainment venues
are set to dot the landscape next year.
currently operates 176 locations, meaning the pruning announced this
week is a small fraction of the company’s overall store base. The
company has a presence in 24 states.
firm Apollo Global Management acquired the formerly publicly traded
company in 2016 for $1.36 billion.