PCC to close flagship store in downtown Seattle
PCC Community Markets on Wednesday said it will permanently close the co-op's flagship store at the base of the Rainier Square tower in downtown Seattle on Jan. 31.
“Despite an amazing team, fantastic store conditions, and a supportive landlord, our downtown store has unfortunately remained unprofitable, and we do not see that changing for the foreseeable future,” PCC CEO Krish Srinivasan said in a news release.
“Since continued losses pose a significant financial risk to our co-op’s long-term viability, we are acting now," Srinivasan added.
Since opening in January 2022, the downtown store has significantly underperformed relative to its original financial expectations, in large part due to persistently lower numbers of office workers and residential grocery shoppers in the city center following the pandemic, according to the release.
https://www.bizjournals.com/seattle/news/2023/11/01/pcc-announces-closure-downrtown-seattle-flagship.html