BARGAIN hunters rejoice because come Monday all the prices of stock on the shelves at Ritchies IGA store in Town Square will be reduced by 50 per cent.
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This may be good news for shoppers but for the owners of the supermarket, which has operated for many years in the centre, the closure is a horrible blow.
But, is has become necessary due to the store’s significant losses especially during the past two years.
“We do operate some loss making stores in our chain but the losses at Town Square were mounting and had too many zeros at the end to allow us to keep trading in that location,” Ritchies chief executive officer Fred Harrison said.
Mr Harrison blamed the closure on fierce competition in the market with two new national chains Coles and Aldi opening in Singleton and the downturn in the mining industry.
“The only good news for us is the fact all our full-time staff have remained with the company and so have a number of casuals,” he said.
“We will now concentrate our efforts on our other local store located in Singleton Plaza – as it appears shoppers are looking to confine their spending to that area of the town.”
Mr Harrison wanted to thank the many loyal customers at Town Square and also thank a delightful landlord RKH.
But he also pleaded with shoppers to please support the independent supermarket chain.
“To quote the late Don Chipp the independents ‘keep the bastards honest’ and shoppers need us to keep competition in the marketplace,” he said.
For the remaining tenants in Town Square, the loss of the supermarket has come as a major blow having already seen Medicare and Centrelink also leave the centre in recent years.
Speculation remains high as to who may take over the vacated space.