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| Save-A-Lot closes up in East Dayton. The food deserts continue to plague Dayton. |
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Folks found put that a grocery store in East Dayton has closed. Save-A-Lot Stores, Inc. has permanently closed its Eastown Shopping Center location and is recommending shoppers to travel two miles to the Breitenstrater Square location bordering Dayton and Kettering.
There's a couple of reasons to why it closed. But it has nothing to do with theft.
It has to do with leasing of the property. I am guessing the lease is up and the company had no choice but to leave. Also the company is struggling with this pandemic. With the cost of goods and services, that location was not feasible for the company. They are probably considering the Airway Shopping Center in Riverside or even the soon to be vacant Kroger in the Walnut Hills neighborhood.
The original Save-A-Lot store was located about 1/2 mile from the current location. It was on Linden Avenue. The company decided to close and became a Dollar General Market. Then in 2013, Save-A-Lot opened up in the Eastown Shopping Center.
The company is also selling off locations.
The St. Louis-based discount grocer said September that it has completed deals to sell the Save A Lot supermarkets to Yellow Banana LLC. Financial terms of the transaction weren’t disclosed. Yellow Banana is part of 127 Wall Holdings LLC, a minority-owned holding company co-founded by Walker Brumskine, Ademola Adewale-Sadik and Michael Nance, who are joined by veteran operator and 127 Wall Holdings co-founder Joseph Canfield, who serves as Yellow Banana’s CEO.
Supermarket News reported that Save-A-Lot is transitioning into wholesale products and converting stores in the near future.
Yellow Banana said it aims to broaden each store’s assortment of local and regional products and hire from local communities. All of the stores are slated to be significantly remodeled in 2022 to reflect Save A Lot’s latest branding, including new decor, upgraded flooring and lighting, and updated produce and meat cases.
“In many cases, our stores are the only accessible option for healthy, affordable groceries,” Canfield stated, “and we will work hard to earn our place as the beloved hometown grocer across our communities.”
The 32 stores acquired by Yellow Banana generate combined annual revenue of more than $130 million, which makes Yellow Banana one of Save A Lot’s largest retail partners, the companies said.
“It is an honor to invest in communities like the one in which I was raised,” commented Nance, who grew up frequenting one of the Cleveland-area Save A Lots now owned by Yellow Banana. “The philosophy that guides our collaboration with Save A Lot is centered on providing both food and job security to those communities that are most in need.”
In December, Save A Lot announced it was shifting to a wholesale-focused business, a move that entails the sale of more than 300 corporate-operated stores to current and new retail partners. At the time, the company had 14 distribution centers and more than 1,000 stores in 33 states, with the vast majority of the locations licensed by over 200 independent grocers. Plans call for Save A Lot to retain 21 corporate-operated stores in St. Louis to serve as testing sites for retail partners.
Upon announcing the strategy, Save A Lot said it had enacted seven sale transactions encompassing 82 company-operated stores, with other deals nearing completion. Most recently, in late May, the company said it sold five Washington, D.C.-area stores in Maryland to independent retailer AQS Foods LLC.
In July, Save A Lot unveiled plans to remodel a third of its store base in 2021 and upgrade the rest of the stores by 2024. Currently, the company has about 1,000 stores in 32 states.
Corbel Capital Partners served as financing partner for the transaction with Yellow Banana, and Squire Patton Boggs served as legal counsel.
“We expect this to be only the start of future growth and collaboration with 127 Wall Holdings, Corbel and Save A Lot,” stated Michael Jones, principal at Corbel Capital Partners.
There is no word on what will become of the now vacant property. But it will soon be a blight magnet.
Of course, grocery stores are not convenient in Dayton. With the looming departure of Kroger, the East Dayton is left with only one option, Dollar General Markets. It's also left with Family Dollar and local establishments which lack fresh vegetables and fruit.
Kroger, Meijer, Walmart, Aldi, Target, Costco and Sam's Club are in the suburbs. They left Dayton with food deserts and economic turmoils. They build their million square feet facilities, enjoy the tax breaks the county gives them but soon as the profits dry up, the depart and leaves the community with a boarded up building plagued to vandalism, arson and depreciation of the area.
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