Andronico’s on University Avenue will be closing its doors on Saturday, but in the meantime it is holding a huge going-out-of-business sale.
All the “dry groceries” in the store are 50% off and the wine, beer, and alcohol are 20% off. The sale meant that the grocery store saw a surge in sales on Saturday, when it did seven times the normal amount of business, according to a store manager.
The bankrupt grocery chain, started in Berkeley 82 years ago, has been acquired by Renwood Opportunities Fund, a partnership between Rosewood Private Investments and Renovo Capital, for a reported $16 million. The firm decided to shutter the under-performing store at 1414 University Avenue, but will keep the Telegraph Avenue, Shattuck Avenue, and Solano Avenue stores open. The 15-20 employees in the store have all been asked to reapply for jobs in the chain, according to a city official. There will be some layoffs, the manager said.
Andronico’s to shutter University Avenue store [ 10.17.11]
Andronico’s and A.G. Ferrari saved from the brink [10.12.11]
Andronico’s files for bankruptcy [08.22.11]
Andronico’s plans recapitalization with new lenders and investors [05.25.11]
Four Berkeley Andronico’s face difficult conditions [05.24.11]
A.G. Ferrari closes Berkeley store, company bankrupt [04.05.11]
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