Overview
- Save A Lot announced this week that it has ended its licensing agreement with operator Yellow Banana, and the company says the seven Chicago stores could shut as soon as Saturday if Yellow Banana cannot secure a new investor or supplier.
- The City of Chicago provided about $13.5 million in tax‑increment financing to renovate six of the locations under redevelopment deals that require grocer occupancy through the next decade and include cure periods that can trigger repayment if buildings go dark.
- Company and city officials point to a roughly 26 percent year‑over‑year decline in SNAP/EBT sales and the April death of Yellow Banana CEO Joe Canfield as immediate drivers of Yellow Banana’s cash and operational breakdown.
- Save A Lot had been supplying inventory and extra operational support to keep the stores open before terminating the arrangement, and city and community leaders warn closures would remove nearby grocery access for seniors and residents without easy transportation.
- City planners, Save A Lot and Yellow Banana say they are talking with potential investors and suppliers to keep the stores open and are preparing to recoup public funds or quickly re‑lease the turnkey locations if closures occur, with a one‑year reoccupancy window for the six TIF sites and 18 months for the Englewood site.