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February 15, 2008

Austin's Cashwise to close

Yep, Lando. I mean the faraway land of Austin.

It is Cashwise.

As Wal-Mart and other Big Box competitors move into the Austin area, Cash Wise Foods has decided to close its 11-year old store.

The 24-hour grocery store located at 1300 18th Ave. N.W., just north of Oak Park Mall. Just east of Cash Wise, Wal-Mart has been building a 194,000-square-foot super center since May 2007. The facility on more than 40 acres will include a full groceries section.
Cash Wise is a brand of St. Cloud-based Coburn’s Inc.

“We have a responsibility to our customers, associates and employee owners to continuously monitor and assess every aspect of our company,” said Coborn’s president and CEO Chris Coborn in an announcement today. “Closing our Cash Wise Foods store in Austin is a difficult, but necessary decision for the overall well-being of our company and the customers we serve,”

Coborn’s has offered its 102 employees working in Austin a severance package, and the opportunity to apply for positions within the company. That includes a new Coborn’s Superstore opening this spring in New Prague, Minn.

The closure includes the Little Duke’s the Little Dukes gas station and video store in the same building. Cashwise leases the space for the Austin store, so that space will open up after the store closes.

This closure will leave Austin with a Hy-Vee Food Store and Aldi along with locally-owned Jim’s SuperValu until Wal-Mart opens a super center in late August or early September.

“I feel sorry for their employees . You hate to see anybody close,” said Jim Baldus, owner of Jim’s SuperValu.


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Austin...out of sight ...out of mind ;)

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