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The former Pathmark (now SaveSmart) which closed in 1995 when this store opened can be seen in the far right of this photo in the adjacent shopping center
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The Acme (former Pathmark) of Ferry Street in Newark, NJ is having a going-out-of-business sale. The closing was announced by the UFCW local 1262 a few weeks back. Unfortunately, the closing is not surprising. In a gentrifying neighborhood full of immigrants from Portugal, Spain, Brazil, Ecuador and lots of other places--Pathmark, with its deep expertise in ethnic merchandising--was a perfect fit; by contrast, Acme makes little effort to carry the products that the people of the neighborhood want to buy. It’s like the company has one model for supermarkets, and they plop them down no matter what neighborhood they operate in.
The sad part is that Pathmark was so successful and high-volume in this neighborhood that, in 1995, they replaced an older store next door with this 65,000 sq. ft. super center. Once A&P took over, prices went up, but at least the store still carried the wide selection of fresh and dry goods that the neighborhood wanted. Acme cut tons of these products and greatly reduced the selection. They replaced the once vibrant international flavor of Pathmark with a WASPy supermarket that your grandmother might have shopped at.
I am sure this is only the first of many former A&P/Pathmark stores that will close under Acme's leadership. The stores are mostly devoid of customers. The owners of New Albertson’s never had a long-term strategy to be in the grocery business. This is a company run by Wall-Street money men who buy up companies, leech money out of them to make themselves rich, saddle the companies with debt, and then try to sell them quickly. And believe me, they are saddling New Albertsons with billions of dollars of debt, financing all these acquisitions and store renovations. Unfortunately for them, there has been low interest in an Albertsons IPO the two times they have tried to offer the company up for sale, and now that same-store sales are tanking, it seems even more unlikely. To top it off, the company still hasn’t had a single profitable quarter since it was formed and is losing tens of millions every quarter.
Employees are being offered opportunities to relocate to other stores, but the ones I spoke to said many of the stores are too far away, and after being put through the wringer over the years, I think they are ready to move on. No one has yet signed on to takeover the supermarket, but the buzz was that ShopRite was interested in the store. The Kearny ShopRite operates 3 miles away.
281 Ferry St; opened in the mid to late 90s as a relocation from next door (269 Ferry St, now a SaveSmart). UPDATE: Is now an Acme as of 11/7/15.
269 Ferry St; opened in the early 80s on the east side of town. Relocated to a shopping center next door at 281 Ferry St in the mid to late 90s; currently SaveSmart discount store.
3025 Carlisle Rd; a former Nell's Shurfine store that closed no later than the mid 00s (was still Nell's in bing.com aerial pictures); later became a store called SaveSmart, which apparently closed in 2011. Currently vacant; not sure if this was something prior to Shurfine.
"New Year’s resolutions can be a great way to motivate yourself and bring about positive change. This year, we’re asking people to think beyond the traditional resolutions and make one or two that are focused on becoming more financially fit,” said First Lady Ballard. “ In Indianapolis, I’m challenging all residents to join me in saving smart and living smart by developing the habit of saving something from each paycheck, even if it is a small amount.”
Part of Indy's Campaign for Financial Fitness, headed by First Lady Winnie Ballard, is Bank on Indy.
Indianapolis Mayor Greg Ballard and First Lady Winnie Ballard recently announced this new campaign to help open no-cost and low-cost bank accounts for the nearly 80,000 Marion County residents who don’t currently utilize banking services. Visit www.bankonindy.org to learn more.
Residents participating in the First Lady’s Save Smart, Live Smart savings challenge are invited to share their New Year’s resolutions at www.indy.gov and register to receive savings tips throughout 2010.