Food Lion Closing Stores

Food Lion announced a massive slate of store closures today, including two properties in Mount Pleasant and another store in Moncks Corner, according to a press release.

Roughly 5,000 Food Lion employees will lose their jobs as the corporation closes 146 stores nationwide, 113 of which carry the Food Lion banner, according to the release.

Mount Pleasant stores at 607 Long Point Rd. and 3365 S. Morgans Point Rd., will close within 30 days, the company said. So will the Hwy. 52 store in Moncks Corner.

Delhaize America, part of the Belgium-based Delhaize Group, announced the changes as it struggles to find a place in a grocery store market turned on its head by Walmart's entry into the food-store business, according to Bloomberg.

Delhaize’s Food Lion stores in the southeastern U.S. have lost ground to rivals including Ruddick Corp. (RDK)’s Harris Teeter, Publix Super Markets Inc. and Kroger Co. (KR) in recent years. Sales at U.S. stores open at least a year fell 0.4 percent in the past quarter, resuming a decline that previously lasted nine quarters through March. Read the full Bloomberg story.

"Today's actions will continue to solidify our U.S. operations and enable our company to focus on our successful brand strategy repositioning at Food Lion and the expansion of Bottom Dollar Food in new markets," said Ron Hodge, CEO of Delhaize America, in a statement. "While these were difficult decisions given the impact on our associates, customers and communities, we believe these actions will enable us to better serve our customers in our markets with high density, while positioning the company for future growth."