Santa Monica Observer - Community, Diversity, Sustainability and other Overused Words

The End of Taco Tuesday: Whole Foods Market at Wilshire and Fifth to Close Sunday

Whole Foods Market is closing several stores after acquisition by Amazon

 

August 3, 2017

The Whole Foods Market at the corner of Fifth Street and Wilshire Blvd will close for good on Sunday, according to Pablo, a "team member" who works behind the oven. "It's sad," he said.

A manager said that nearly all employees who wish to continue working for Whole Foods market, have been given positions at other local Whole Foods stores. "I wouldn't count on the Montana Avenue store staying open much longer, though" he added.

The Whole Foods chain acquired local markets Wild Oats in 2013, adding the stores on 5th and Montana to it's growing list of stores. There is another whole foods on Wilshire and 22nd Street, and also a large facility in Venice on Lincoln and Rose Avenue.

Amazon.com Inc. announced in mid-July that it would acquire Whole Foods Market Inc. for $13.7 billion. It was, "a bombshell of a deal that catapults the e-commerce giant into hundreds of physical stores and fulfills a long-held goal of selling more groceries," said Bloomberg news.

https://www.bloomberg.com/news/articles/2017-06-16/amazon-to-acquire-whole-foods-in-13-7-billion-bet-on-groceries

"Amazon agreed to pay $42 a share in cash for the organic-food chain, including debt, a roughly 27 percent premium to the stock price at Thursday's close. John Mackey, Whole Foods' outspoken co-founder, will continue to run the business -- a victory after a fight with activist investor Jana Partners that threatened to drive him from power," said Bloomberg.

Update 8/2: we received the following in an email from Janette Rizk, WFMs publicist:

"A few details reported in the story are not accurate:

· The subhead “Whole Foods Market is closing several stores after acquisition by Amazon” is incorrect; the store relocation has nothing to do with the Amazon deal and there are no plans to close the Montana store or “several stores”

· There is not a team member at the 5th and Wilshire store named Pablo

· The 5th and Wilshire store manager did not speak with anyone at the Observer about the Montana store closing; there are no plans to close that store so that quote is speculative and misleading

· Whole Foods Market acquired Wild Oats in 2007

· “it’s” should be “its”

· The 5th and Wilshire store is relocating to the Whole Foods Market 365 store opening at 2121 Cloverfield Blvd (at Pico) on August 9. All 5th and Wilshire team members have been transferred to this new store.

· Beginning Friday, August 4, 5th and Wilshire will have a 50% off sale through August 6.

· Bloomberg is spelled wrong"

 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2017