RICHMOND, Va. – The Farm Fresh on Main Street in Shockoe Bottom will be eventually be sold by Supervalu, who announced Wednesday that they have found buyers for 20 Virginia stores and plan to sell the remaining ones. On Thursday the company informed store employees of layoffs with notification letters, as 60-day notice is required by law. The company emphasized they are seeking a potential buyer for stores and that they don't have a specific timeline.
The stores will be sold for approximately $43 million in cash to Harris Teeter, Kroger Mid-Atlantic Division and Food Lion, according to a company release.
The Minnesota-based grocery retailer will continue discussions and explore potential transactions to sell the remaining Farm Fresh stores.
The stores so far being purchased are mostly in the Hampton Roads area and North Carolina.
Harris Teeter, will buy 10 stores, including six in-store pharmacies and three fuel centers.
Kroger Mid-Atlantic Division will buy eight stores, including eight in-store pharmacies and four fuel centers
Food Lion, will buy three stores including three in-store pharmacies
The transactions are expected to close in May 2018.
Farm Fresh was founded in 1957 and employs approximately 3,300 associates.
"We are thankful for the tremendous service our employees have delivered at Farm Fresh through the years, and are grateful for the opportunities we’ve had to share in the lives and special events of our customers and employees across the Hampton Roads, Richmond, Williamsburg, and Elizabeth City communities," the company said in a release.
Supervalu did not respond to a request for information at the time of publishing. The manager at Fresh Market said he could not comment on any possible layoffs.
The Farm Fresh on Main Street is the only grocery store serving the surrounding communities. Construction is currently underway on a building that will house a culinary school for J. Sargeant Reynolds Community College, along with office space, a restaurant and a dozen apartments. Jim’s Local Market store had been planned for the grocery space but is no longer part of the project, reports RichmondBizSense.com.