New York City grocery staple D’Agostino is looking to sell its remaining stores.
The company, which operated 13 stores a year ago and 26 at its peak, is struggling with stiff competition from brands such as Whole Foods, Trader Joe’s, FreshDirect and others, as well as rent increases at its locations.
The 84-year-old, family-owned supermarket chain is marketing its nine store locations in Manhattan, drawing interest from firms like Food Emporium owner Key Food, the New York Post reported.
Industry experts say Key is a natural buyer for the stores.
“It would make tremendous sense since D’Agostino’s operating results have suffered tremendously and Food Emporium is a very strong brand that can be brought back,” Burt Flickinger, a supermarket consultant, told the Post.
D’Agostino’s CEO Robert James told the paper the company wasn’t in discussions about a possible sale. [NYP] – Ariel Stulberg