The Stop & Shop supermarket at Methuen’s The Loop has made the “difficult decision” not to renew the store’s lease after failing to meet financial expectations, a company spokesperson tells WHAV.
The store, located at 90 Pleasant Valley St., will remain open until July 31, 2020.
Methuen Mayor James P. Jajuga learned of the supermarket’s intention not to renew its lease earlier this week, his office said. While “disappointed,” his office intends to assist affected employees “in any way possible.”
“We continue to work closely with The Loop management to support their efforts to identify new tenants for the space Stop & Shop will leave next summer. The Loop’s success in a challenging economic situation is very important to the people of Methuen,” Jajuga told WHAV.
Other nearby Stop & Shop locations include Andover, North Andover and Amesbury.