[Source: Jahna Berry, Arizona Republic] – A posh specialty-food store inspired by California’s wine country plans to open a second Arizona location. Oakville Grocery Co. will open a shop in downtown Phoenix’s CityScape project, company officials announced Monday.
It will replace another proposed CityScape store, AJ’s Fine Foods. AJ’s parent company, Chandler-based Bashas’ Supermarkets Inc., sought Chapter 11 bankruptcy protection last year.
Oakville is slated to open this September in a 9,300-square-foot space near Jefferson Street and Central Avenue. In December, the company opened a shop at 15015 N. Scottsdale Road in the Scottsdale Quarter, an outdoor shopping center. Oakville is selective about where it opens stores, said the firm’s regional general manager, Barbara Henderson, and it wanted to be in downtown Phoenix.
CityScape is a $900 million cluster of shops, offices and restaurants bordered by First Avenue, Second Street, Washington Street and Jefferson Street. [Note: Read the full article at Oakville Grocery to open downtown Phoenix CityScape store.]
[Source: Max Jarman, Arizona Republic] – Bashas’ Inc. has asked the U.S. Bankruptcy Court to void its leases on planned AJ’s Fine Foods and Food City stores in Phoenix and El Mirage. Bashas’ earlier signed leases for stores in the CityScape development in downtown Phoenix and in a retail center at Thunderbird and Dysart roads in El Mirage. Work has not started on the stores, and Bashas’, which has been operating under Chapter 11 bankruptcy protection since July, contends it would be a financial hardship to move forward with the new stores.
In bankruptcy, the court has the power to terminate leases with no repercussions to the tenant. Bashas’ earlier notified the prospective landlords of their intent not to occupy the stores. At $28.50 per square foot, the CityScape lease for 9,500 square feet would have cost $271,000 per year, and the El Mirage lease at $12.15 per square foot for 55,000 square feet would have cost $668,000 per year, according to court documents.
Since filing for Bankruptcy Court protection, Bashas’ has closed or decided not to go forward with more than 30 stores. More stores could be closed under terms of the Chapter 11 reorganization plan the company is expected to file with the court later this month. The plan is said to include the Basha family’s continued ownership of the chain and the closure of an unspecified number of additional stores. [Note: Read the full article at Bashas' asks to void lease at downtown Phoenix CityScape project.]
[Source: Max Jarman, Arizona Republic] — Bashas’ Supermarkets Inc. said late Sunday that it would close 10 more stores July 21, resulting in approximately 1,000 job cuts. The company also said it would make an important announcement today that would affect the future of the company. Mike Proulx, Bashas’ president and chief operating officer, would not elaborate on the nature of the announcement. [Note: Read the full article at Bashas' to close 10 Arizona stores, cut 1,000 jobs]
Phoenix Store Closings
- 1648 S. 16th St.
- 4727 E. Bell Road
- 4338 W. Thomas Road