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The problem with that plan is convincing someone to be interested enough to actually take the subsidy. In this example, the old owners were retiring, and nobod
by phire 4y ago
The problem with that plan is convincing someone to be interested enough to actually take the subsidy.
In this example, the old owners were retiring, and nobody wanted to buy it. There isn't a lot of revenue for a Grocery store in a town this small. So it was easier for the town to just buy it and then operate it.
Apparently the store was profitable before the sale, and the town operated store in the neighbouring town also operated at a 3% profit.
But looks like this town have made the choice to keep prices lower (probably to compete with the dollar general) and operate it at a slight loss, at least for the 2021 year, which is the only year they have released the annual report for since they bought it. Maybe the 2021 year included to startup costs and it would have otherwise been profitable.