According to local sources, Okey-Dokey may be closing all their discount stores in Florida. Okey-Dokey had been planning on opening over 400 discount grocery stores in the region. Most people would be wondering what exactly went wrong with this line of stores, considering the fact that the company has done a lot to ensure that the people in the region have access to a constant supply of groceries all the time.
At least 11 stores that were recently in operation have already been closed. The grocery store chain has already opted out of about 40 or 50 deals to open new grocery stores in the region. Sources further say that the company had about 13 stores operating in May. The company is not looking to oversee the running of these stores in the foreseeable future. Okey-Dokey is already looking for a company to which they can sublease the stores.
Things at Okey-Dokey don’t seem to be going as most of their founders had intended. When contacted, they were not willing to comment on the situation at the company. The picture on the ground is, however, not very encouraging because the company is clearly losing control of their business.
Okey-Dokey was established back in 2012 by the founders of the X5 retail group in Russia. The stores were established alongside a chain of hypermarkets that included Pyaterochka and the Krusel chain. According to the company, it was backed by $500 million from private investors with the plan of establishing over 400 stores and has sales of over $1 billion within four years. All this, however, seems to have hit a wall.