Rainbow shuts doors here early
Published 12:00 am Monday, March 20, 2000
About three weeks earlier than originally planned, Rainbow Foods closed its doors over the weekend, leaving Austin with one less option for groceries.
Monday, March 20, 2000
About three weeks earlier than originally planned, Rainbow Foods closed its doors over the weekend, leaving Austin with one less option for groceries.
With Saturday’s closing, prices for the last shoppers had been cut to 50 percent. However, all that remained today is a small sign on the door that reads, "Store is closed."
In mid-February, Rainbow Foods announced the closing of two stores – a store in Minnetonka in addition to the Austin store – because performance fell short of expectations.
After the closing was announced, Pat Liska, vice president of operations for Rainbow Foods, said despite the store’s finest attempts to build a market in Austin, the store performed below expectations and the cost of operations had become too great. Attempts to reach Liska this morning were unsuccessful.
Rainbow Foods, which is headquartered in the Twin Cities, is a part of Oklahoma City, Okla.-based Fleming Cos. Inc.
The building Rainbow is moving out of is leased through Progressive Reality Inc., a real estate firm based in Oklahoma City.
Bradley Real Estate Corp., a Twin Cities firm, had owned the building before selling it to Progressive. Bradley bought the property from the original developer, Oppidan Investments, in October 1999.