Joe Caputo & Sons: Closings 'left unexpected financial burden'
Joe Caputo & Sons acknowledged financial problems related to a failed expansion plan Saturday in a Facebook post, but the family-owned independent grocery chain said its three original stores will keep operating. Stores in Des Plaines, Algonquin and Palatine "remain strong," the post said.
The company's Elk Grove Village store will close Sunday. Stores in Arlington Heights and Northbrook closed in November. All were former Dominick's locations. Anthony Marano Co., a Chicago-based produce wholesaler, is suing the grocer, accused of failing to pay for $3.6 million in produce.
The big investment in expansion, followed by the closings, "left a large and unexpected financial burden on our core operations. We have been attempting to address these issues ever since," the statement said. "We regret our plans for expansion didn't work out as we had hoped, and we continue to cooperate with all parties involved in working toward a speedy resolution."