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St. Mary’s Grocery Restructuring and Rebranding

by ahnationtalk on May 15, 202433 Views

May 15, 2024

St. Mary’s Supermarket opened in April 2003, and has continually received praise from its customers for being the best place to shop in Fredericton. Unfortunately, the grocery business in Canada has changed over the years, and our ability to access staple products our customers rely on has been eroded due to uncompetitive pricing by national suppliers, who operate their own stores, often selling goods at lower rates than they are supplied to independent stores. This, coupled with the Province of New Brunswick’s withdrawal from our communal Tax Revenue Sharing Agreement (TRSA) in 2023 has led to a projected loss in 2024 of over $1 million if major changes to operations are not made.

To reduce that loss and ensure food security is maintained for members of Sitansisk, St. Mary’s Retail Sale (SMRS) Board of Directors approved the St. Mary’s Grocery Restructuring Project on May 14, 2024. This project requires the winding down of operations at the St. Mary’s Supermarket, with Two Nations One Stop being upgraded to provide some of the most popular products, including meat, seafood, and produce. This restructuring means the St. Mary’s Supermarket will close on June 30, 2024, with critical equipment being transferred to the new location at the Two Nations One Stop afterward.

Affected employees were notified today of this restructuring and are encouraged to apply at other SMRS locations before June 30. Those who are not employed by other SMRS locations by June 30, 2024, will be granted severance based on their terms of employment and will retain benefits until June 30, 2024.

The remainder of the SMRS business portfolio remains cashflow positive, and additional business developments are in the works, offering more employment opportunities when they open. Sitansisk recently took possession of the property at 471 Union Street (Formerly MacLeans Motorsports) which will be used to expand our business portfolio in the future.

Thank you to our employees, our community, and our customers for helping create the best shopping experience in Fredericton. We look forward to serving you at the upgraded Two Nations One Stop later this year and are excited for new opportunities.

NT6

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