Ailing Jefferson Market Closed for “Restructuring”

Gourmet grocery Jefferson Market is a West Village institution, run by the same family for more than forty years. And just like many other mom-and-pops, they've recently felt a lot of pressure from chains. In Jefferson Market's case, the competition comes from Whole Foods, Citarella and Trader Joe's, which have all set up shop nearby. That, compounded with "some bad management choices, like letting the staff get too big, and not wanting to let anyone go," has crippled the store. Shelves have been barer and barer, and now, there's a sign in the window of the market stating that it is temporarily closed for restructuring. A recent piece in the Times stated that ownership was seeking a cash infusion to stay open. Let's hope this restructuring is evidence they found an investor.
· Jefferson Market Closed [Jeremiah's Vanishing NY]
· In New York City, Rivals Overtake a Grocery’s Stock [NYT]
· Jefferson Market stocks down but Met Food hopes up [Villager]For more stories from Racked, go to racked.com.