A supermarket chain has announced it will close stores and stop making fresh fruit and vegetables in the US and Europe, after losing $30.4 million in revenue in 2016.
Albertsen’s grocery store chain announced on Thursday that it had stopped selling fresh fruit, vegetables, meats and breads in the United States and Europe.
“We want to thank our loyal customers and associates for their support and continued patronage over the past several years,” Alberksons CEO Jim O’Brien said in a statement.
“The impact of our failure on the business is immense.
The loss of a significant portion of our business, combined with the uncertainty of the current economic climate, has impacted our business operations and impacted our bottom line.
AlberTSons is a company that is focused on the long-term, and we are confident that our long-run success will be achieved through continued investment in our team, infrastructure, and culture.”
AlberTSon’s announcement comes on the heels of a statement from the company’s chief executive, Jim O. O’Donnell, in which he said the chain was in a “very challenging financial situation.”
Albersons shares were down $1.04, or 6.1%, in after-hours trading on Thursday.