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Robert Ripps book
History of Tribeca Buildings
The Food Emporium Is in Limbo
Given the empty shelves, you can be forgiven for thinking that the Food Emporium on Greenwich Street is closing imminently. And it may be—but it’s not quite as simple as turning out the lights and moving on.
While a spokesperson from parent company A&P declined to comment, sources familiar with the situation explained that A&P’s bankruptcy involves a court-supervised auction process during which other entities can make bids on the stores. As of last Friday, when the most recent auction happened, no bids were made on the Tribeca Food Emporium. There will be at least one more auction (date to be determined, but presumably in the next couple of months), at which another company could make a bid and be approved by the judge overseeing the bankruptcy. If there remain unsold stores, the judge might order yet another auction or declare the process terminated, effectively shuttering the store.
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I sure hope there’s not a Food Moratorium. That would suck, like for reals.
Hard to believe a grocer isn’t able to operate profitably in that space; seems everyone I know in the neighborhood is a patron. Is this another rent issue or is A&P’s bankruptcy the sole driver?
Grocery is a volume business. The profit margins are small, only 1-2%. The problem could be rent, or lack of sales/customers, or both. (Having Whole Foods nearby is a blessing and a curse for them.)
This was the very first store that started Tribeca. Its a damn shame. This is because of the landlord of the property and high rent. There needs to be rent laws in place for the landlords. They are out of control. Tribeca looks like a ghost town. Crime is on the rise. Back to the 80s we go. Its a shame.