Headlines

Dean & Deluca to Close Stores

Three of its nine locations will be closed due to growing debt

Published

5 years ago

July 12, 2019

VMSD Staff

Struggling fine foods purveyor Dean & Deluca has announced it will close three of its nine stores, including a new concept store that just opened three months ago, according to The New York Times.

The retailer, founded in 1977 by Giorgio DeLuca and Joel Dean, was purchased by Pace Development in 2014. Since then it has terminated lease agreements, closed stores outside of New York and has been criticized by small vendors for lack of or delayed payments.

“It stings because so many of us bakers grew up alongside Dean & DeLuca,” said Eleni Gianopulos of Eleni’s Cookies, who sued the company last year for $86,000 and ultimately settled for 50 cents on the dollar: an overall loss.

Pace has reportedly promised that the Soho flagship and new meatpacking prototype store Stage, will remain open.

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