February 16, 2010

Market Basket

Not only are they still hurting the area grocery stores but it is getting worse. Watch for supermarkets to be closing in Worcester.

10 comments:

Anonymous said...

Jewel Box on Green Street closed. R.I.P. This is the worst year in memory for the restaurant biz. 75% are week to week.

Bill Randell said...

Van anyone confirm that the Jewel Box has closed?

Bill Randell said...

Rumor mill says restaurant on Pearl Street on life support

Jahn said...

Anonymous, do you sell or work for someone who sells to the restaurant trade?

Neil said...

Yep, Jewel Box is closed per their website:

http://www.jewelboxrestaurant.com/jewel-box-closing.php

Anonymous said...

Jahn/Bill, I dont work in the business but Im a city guy. 55 Pearl is in bad shape. I know all parties involved and they are all great people. They are in a business that in good times has a 90% five year failure rate. Add on a severe depression and the rate goes even higher. I predict many more will go especially anyone who doesnt own the property outright.

Gabe said...

The decision to close Block 5 was one that was baffling to me.

Gabe said...

So according to the link posted by Neil they are going to keep a restaurant in there, it just won't be The Jewel Box.

Anonymous said...

Is it the Big Bunny Market in Southbridge?

Jahn said...

Anonymous I am hearing and seeing commercial landlord(s) in Worcester cutting their rent. 25% in one case that I know. Supposed to a be temporary measure. Stay tuned. A Paying tenant at 75% rent is better than nada.