Has anyone else heard the rumors that the remaining 96 Neighborhood locations will be closed this year in order to raise needed cash, instead of over the next three years as planned? I was told this was discussed in internal meetings this week.
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Plus they need actual buyers for properties. Not likely for about 12 months after this is all over.
If they plan a mass store closure, it’s going to be a lot more than just Neighborhood stores. I would guess best 275 stores remain that’s it.
There is no legal requirement to pay severance so they could forgo it.
If they close that quickly they pay all that severance so it would be a wash in savings this year. Would cost too much.