Bottom Dollar Foods, a cut-rate grocery chain operated by the non-union Delhaize America supermarket group, is closing its stores in North Wales, Montgomery County; in Chalfont, Bucks County; and in Reading, reports Supermarket News and Dave Goodman's Running with Equity Retail blog.
Bottom Dollar began opening stores in the Philadelphia area in 2010. "We made a few mistakes in terms of opening at the beginning," Delhaize chief financial officer Pierre Bouchot told investors in the company's annual conference call yesterday.
Delhaize closed 126 U.S. supermarkets, mostly Food Lions, last year, and plans to close another 8 Food Lions and 33 Sweet Bay markets this year.
But Bouchot insisted the chain has not given up on building the Bottom Dollar line: "When you are developing a new store format, you learn throughout the first two years... We'll be continuing to open, in the coming years, Bottom Dollar Food in those two cities." He hopes the chain will be profitable by 2015.