Dairy Mart's Restructuring Continues
OWENSBORO, Ky. -- Dairy Mart Convenience Stores Inc. will shutter the doors on its Ownensboro, Ky. Store later this month as the chain continues to struggle through Chapter 11 bankruptcy.
The 62-year-old parent company, which operates 540 stores in seven states, filed for bankruptcy in September. Declining performance over the past several years is the company's reason for shutting the store.
"The store is closing as part of Dairy Mart's ongoing strategies to close a small number of underperforming stores each year," company spokeswoman Betty Yopko told the Messenger-Inquirer (Ky.).
The Owensboro Dairy Mart, with five employees, is one of about 30 stores that will close during the reorganization. The store has cut all grades of gasoline to 98 cents per gallon in an effort to deplete supply, the report said. But no other reductions in stock will be put in place. Vendors will pick up what's left of merchandise to relocate.
Some employees often are offered other positions at other store locations. But Yopko said it is still too early to determine if Owensboro employees would be offered other jobs.