The Bottom Dollar Food stores in Bristol Township and Penndel will close by the end of the year.
The news of the closing comes after Delhaize Group in Belgium signed an agreement to sell the chains 66 stores in Pennsylvania, New Jersey and Ohio to Aldi. The company said the transaction will close in the first quarter of 2015.
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“Upon the closing of stores, Bottom Dollar Food will offer every associate severance, and eligible associates will be offered career transition services,” a statement from the grocery chain said.
“This decision was difficult given the impact on our associates, customers and communities in which we operate,” said Gene Faller, vice president of retail operations for Bottom Dollar Food. “We want to thank our associates, customers and communities for their support over the past four years.”
The stores were sold for $15 million and includes the assumption of associated lease liabilities.
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“The divestiture of Bottom Dollar Food further simplifies our business, increases debt capacity and creates shareholder value. Today´s announcement is consistent with our strategy, announced in March, of investing in and focusing on our core markets,” President and CEO of Delhaize Group Frans Muller said.
The company owns the 18,000-square-foot store at the intersection of Edgely Road and Mill Creek Parkway in Bristol Township’s Levittown section. The Penndel store, which is on Bellevue Avenue, is leased.
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The Levittown store opened in October 2013 too much fanfare. The location was the first grocery store to open in Bristol Township in several years, a town official told LevittownNow.com last year. The Penndel location previously housed several grocery stories before sitting vacant before Bottom Dollar took over the space.
