Green Top survives as co-op owners come through with much-needed cash

Posted on November 13, 2018
Green Top
Local Green Top Grocery owners raised the needed $300,000 by Monday’s deadline to maintain cash flow, allowing the co-op to stay in business. (File photo)

 

By Katherine Murphy and Howard Packowitz

BLOOMINGTON – The grocery store cooperative that opened it’s doors in May of 2017 won’t go out of business, and management is optimistic about its future.

Green Top Grocery’s 1,900-plus owners reached a little deeper to push the store over the edge and meet the Monday afternoon deadline of raising $300,000.

Sales started slow for the co-op when the doors opened at 921 E. Washington St., and layoffs at State Farm changed the economic landscape around town.

Co-op leadership announced a turnaround plan earlier this year. It’s an eight month strategy expected to streamline operations, show better marketing and greater community outreach. The plan proved to be successful so far as second quarter sales rose 30 percent in three months.

Michael Gorman, Green Top’s Board President, said he encouraged by the store’s current trajectory.

Katherine Murphy can be reached at [email protected]
Howard Packowitz can be reached at [email protected]

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