Two weeks after supply shortages were widely reported at its locations, Mrs. Green’s Natural Markets announced late Tuesday afternoon that it plans to close all but five of its stores. CEO Pat Brown is also stepping down, the company announced.
Mrs. Green’s, a subsidiary of Irvington-based Natural Markets Food Group, said that it would focus its business into its core Westchester stores: Yorktown Heights, Briarcliff, Mount Kisco, Eastchester and Larchmont. That leaves its locations in Rye, Tarrytown, Manhattan’s West Village and in the town of Fairfield and Stamford, Connecticut, on the outs.
The West Village and Stamford stores will close immediately, the Rye, Tarrytown and Fairfield locations will be closed by week’s end, according to a company spokesperson.
Related:Â Mrs. Green”™s closes Illinois, New Jersey locations; facing supply shortages
A planned expansion in Dobbs Ferry at the Rivertowns Square development is also off, a company spokesperson confirmed.
“Mrs. Green”™s Neighborhood Market has been a part of the fabric of the Westchester community for three decades and this announcement demonstrates our long-term commitment to providing our customers with the locally sourced produce and healthy-living products they love,” read a statement released attributed to “the Company” today. “While the closure of any location is difficult ”“ especially because our customers and communities have supported us ”“ they are also necessary as we focus on our core, profitable stores.”
Existing management will take over Brown’s duties, who was appointed CEO in Oct. 2014. The company thanked him for his service in the statement, but did not give a timeline for any potential replacement.
Natural Markets Food Group is owned by Toronto-based equity firm Catalyst Capital Group Inc. Catalyst operates the Planet Organic and Richtree Natural Market Canadian grocery chains under the Natural Markets Food Group name as well.
Mrs. Green”™s launched as a single family-owned store in Scarsdale in 1991. In 2007, the company and its 11 stores at the time were bought for $33.7 million by Planet Organic Health Group, then Canada”™s largest natural food retailer. Planet Organic filed for bankruptcy in 2010, when Catalyst acquired its assets.
A company spokesperson said the restructuring process will affect only the Mrs. Green’s stores, not any other brands under the Natural Markets Food Group umbrella.
The company is still working toward restocking shelves at the locations that will remain open, and the process will happen in different installments, according to a company spokesperson.
The company said it will provide severance packages and transition services to impacted managers and associates.
