Latest news with #RockysPeanutCompany
Daily Mail
17 hours ago
- Business
- Daily Mail
Tears as 60-year-old business staple shuts iconic downtown location: 'RIP my childhood'
Another iconic business will close up shop for good. In an Instagram post, Rocky's Peanut Company — a snack and spice store in downtown Detroit — announced plans to shut down after 60 years in business. It now joins more than 5,000 brick-and-mortar locations that have shut f or good this year. 'It is with a heavy heart that, after many years, decades, and family generations, Rocky's will be closing its doors,' the company wrote in a caption. Patricia Russo, the owner, said the store is shutting down as she heads into retirement. She hasn't set a closing date, but said they're aiming to sell through the products and the building by October. Rocky's became a mainstay in the city's Eastern Market commercial district after opening its doors in the 1950s. It sold products like salted peanuts, coconut water, candied fruits, and burger seasoning in bulk. On social media, commenters have expressed sadness about the closure while reminiscing about their sugar-filled visits. 'RIP my childhood,' one shopper said about the store on Reddit. 'There was no greater experience than picking random candies from those bins.' Another Instagram commenter wrote: 'The candy and cashews will be missed... You all has a great run.' 'This decision comes after much reflection on the future of the business and our family,' Russo told 'We are humbled by the outpouring of love and support from our loyal customers.' Retail Run Thousands of retailers, restaurants, and small businesses have shuttered across the US this year as consumer behavior shifts and pricing pressures squeeze profits. Closures are expected to accelerate. Experts predict 15,000 stores will permanently close this year, more than double the 7,000 that shut down last year. Bankruptcies from some iconic American chains — like Party City, Rite Aid, and Joann's — have fueled the first wave of liquidations. Each has shut down hundreds of locations after entering bankruptcy. Joann's and Party City have closed all of their physical stores, while Rite Aid is shutting down all of its locations. Meanwhile, big-box retailers like Macy's and Kohl's have added to the tally with dozens of closures of their own. Executives have pointed to online shopping trends and inflation-weary consumers as key reasons for the downsizing. But experts told that panic over store closures may be overblown. 'The retail apocalypse is fake news,' Saunders of Global Data told 'While it is true that we're seeing a rash of store closures, this is mostly because weaker players are dropping out of the market - because they have failed to convince consumers to shop with them.'
CBS News
3 days ago
- Business
- CBS News
Rocky's Peanut Company to close it doors in Detroit's Eastern Market
Rocky's Original Peanut Company at Eastern Market in Detroit will be closing its doors later this year. The store on Russell Street made the announcement in an Instagram post on Thursday, saying it will cease operations by October. "From the bottom of our hearts, we want to thank our incredible community," the post said. "You've not just been customers but have truly become part of our family. Rocky's has stood in Eastern Market for decades because of your love, loyalty, and countless shared memories. Rocky's has stood in Eastern Market for decades because of your love, loyalty, and countless shared memories." Rocky's, known for selling peanuts, candy, spices and other items, did not share in the post why it's closing. Eastern Market said in a comment on the post that Rocky's has been an "anchor for decades," and will support the business however it can. DeJanay Booth-Singleton contributed to this report.
