Three area Acme stores to close

Posted: September 06, 2012

Acme supermarkets in Morrisville, Sharon Hill, and Glassboro, N.J., are to be shut down by December as part of a broader cost-cutting move in which corporate parent Supervalu Inc. will close 60 stores across the nation, the Minnesota-based company said Wednesday. A fourth Acme in Stevensville, Md., is also among those being shuttered as an "underperforming or nonstrategic" store, as are 22 Save-A-Lot locations.

The announcement comes as Supervalu tests the market for potential buyers of some or all of the retail- and wholesale-grocery corporation, which consists of Malvern-based Acme Markets, Chicago's Jewel-Osco supermarket chain, a food distribution segment, and other retail grocery chains.

The company is burdened with declining sales and billions of dollars in debt - a combination that has depressed share prices and been troubling to investors. It fired its last chief executive earlier this summer. The store closures will leave 113 Acmes across Pennsylvania, New Jersey, Delaware and Maryland.    - Maria Panaritis

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