Grocery store chain Stop & Shop announced it will be closing 32 “underperforming” stores, including locations in Carlstadt, Ringwood, and eight other sites in New Jersey by the end of this year.
“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” stated Stop & Shop President Gordon Reid on Friday.
Even after these closures, Stop & Shop will continue to operate more than 350 stores across its five-state footprint.
The chain has remodeled nearly 200 of its stores since 2018, but CEO JJ Fleeman admitted that the efforts were insufficient, saying, “it’s not enough, and it’s not where we want to be or need to be.”
All employees affected by the closures will be offered other potential positions within the company, according to spokesperson Daniel Wolk.
There are currently 57 Stop & Shop stores in New Jersey.
The following locations are slated for closure by the end of 2024:
1083 Inman Ave., Edison
1049 US Highway 1 South, Edison
4861 US Highway 9, Howell
1278 US Highway 22, Phillipsburg
581 Stelton Rd., Piscataway
625 Paterson Ave., Carlstadt
1221 State Route 27, Franklin Township
130 Skyline Dr., Ringwood
505 Richmond Ave., Point Pleasant Beach
2275 West County Line Rd., Jackson
In related news, pharmacy chain Walgreens and discount chain Big Lots have also announced closures of several “underperforming” stores, with Big Lots considering bankruptcy.
Meanwhile, chains like Walgreens, Target, and Aldi are planning to cut prices on thousands of products as consumers contend with inflation.
Several companies with a presence in New Jersey that have filed for bankruptcy since the pandemic include Red Lobster, Rite Aid, Bed Bath & Beyond, and Christmas Tree Shops.