Atlantic Food Mart, a Reading 'landmark' according to the Boston Globe, closed down on Wednesday mainly because it faced fierce competition from two area corporate giants: Market Basket and Stop N' Shop. Only a few die-hard, loyal shoppers kept Atlantic from closing shop sooner. Oaktree Development recently purchased the property. The company will demolish Food Mart and erect a four story residential building in its place.
I think this whole scenario falls under the umbrella of "Shock Doctrine." Oaktree Development waited for a major disaster -- the opening of Market Basket and Stop N' 
Shop in Reading -- and then it capitalized on Food Mart's collapse. In particular, Market Basket's prices are just too low for any small-scale food market to compete. Loyal patrons will no longer be able to purchase their food at a place they came to love; instead they will "sell out" to the corporate behemoths by buying their products. Employees, like WHS's own Spencer Connell, are now on the unemployment line, forced to find new jobs (most likely at Market Basket or Stop N' Shop unless they switch careers). This kind of disaster capitalism isn't uncommon; supermarket giant Walmart is known for its forcing out of smaller businesses.
Stay tuned. I might just write about this in the next issue of the exPress.
Wednesday, November 26, 2008
Atlantic Food Mart Closes
Labels:
business,
food,
Glen Maganzini,
local news
2 comments:
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Hmm... I don't think it was Stop N Shop that was the death of Atlantic at all. Their prices were comparable. Stop and Shop is actually really expensive, and if you go in there now you will see it too is a ghost town. It was definitely Market Basket. Their prices were just too low.
ReplyDeleteFirst of all I second what Mocha said. After being an employee at Atlantic I think Mr. Rubin was really ready to retire anyway, because he wasn't aggessive in getting business back and/or getting new business.
ReplyDeleteIt is sad that Atlantic is gone, I'll never have a patient employer like that again having PDD it is hard to get and maintain a job especially at a big place Atlantic was perfect. I found this site looking for links to the recipe section of AFM. I think that someone should have written a cookbook, too late now.