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Tangletown's Meridian Market for sale

What do you think? (10 Comments) August 11, 2010 at 2:14PM

Tangletown’s Meridian Market (2201 N 56th St) is being put up for sale.  Owner Wally Wright says that he will be meeting with a broker today (Wednesday, August 11, 2010) and a listing will be available shortly.

Meridian Market

While the entire business will be for sale, Wally says that there is another scenario that may work: if someone is interested in purchasing just the food service aspect of the business (i.e. the deli), he could maintain the grocery aspect.  “It really is an ideal situation for someone,” he said.  “It’s turnkey.  Everything is ready to go.”

Meridian Market Deli

Meridian Market has been struggling since last winter, when Wally first had to cut back on staff hours and product purchases.  Since then, revenues have not gone up, and he has had less and less operating cash on hand to purchase new products to put on the shelves.  As shelves grow more bare, customer numbers go down and the cycle continues.

The market has been a fixture in Tangletown for three years.  As of now, Wally has no plans to shut the doors before the business is sold.  However, starting today, he is cutting down on operating hours and limiting staff.  The market will now be open every day from 11 a.m. to 7 p.m.   Wally will focus on maintaining stocks of bread, produce, dairy, beer, and wine.

I asked Wally if there was any other information he wanted to share with the neighborhood.  “Just tell everyone thanks,” he said.  “Thanks for the support.”

Sign on the door - Meridian Market

Click to enlarge



Thanks, Christopher, for the tip.

10 Responses to “Tangletown's Meridian Market for sale”

  1. Random Observer says:

    Wow, seem like an eerie repeat of what happend to the Phinney Market :/

    http://www.phinneywood.com/2008/08/20/phinney-m

  2. Guest says:

    exactly a repeat…
    so sad, but what it needs is some good food, good service…and a remodel…would love to get my hands on it

  3. Steve says:

    The shelves have been getting more empty every time I've been there over the past few months, so this is the inevitable result. I know he really enjoys the grocery aspect of the place, but I think they or someone could really be successful with just a deli/sandwich business (in a smaller space). Their sandwiches are made with care, and are always VERY tasty. But in this economy it seems pretty risky still, and I'd bet getting a loan from a bank for that kind of business is near impossible in spite of all the “stimulus”.

    Thanks Wally and staff for preparing great take-away food which my partner and I have eaten many times over the past couple of years. Best of luck to you all in your next ventures.

  4. horseknuckle says:

    I know I am always late on these posts, but I just went up there and saw the notice. I am destroyed because I feel like a neighborhood market is so valuable. On the other hand (and I truly mean this as constructive criticism), a market like that can’t be a specialty market, even in this neighborhood. God help me, but I need to think about Meridian as a true alternative to QFC, where I do NOT do a majority of my shopping, but where I will go to by emergency ingredients, last minute meal-fixin’s, etc. A store like that does not thrive as a “regular” supermarket where any of us will go for major shopping. So, when I go to Meridian to pick up some meat for a BBQ and find organic filet mignon in 4 oz. sizes at a bit above market price, I am disappointed. Or when I go to buy baby formula or baby food in a pinch, I remember the price I had to pay for it. I do not need organic, expensive produce in a pinch. I probably want it, but I also probably want to go to PCC and shame on me for procrastinating, being lazy, and I’ll remember the good price I paid. Plus, if the price on the other items is reasonable, I will probably splurge on a featured wine or one of those amazing desserts from the deli case.

    Now that I am writing this, maybe I’m making the case for why a market like Meridian can’t work. I’m a hypocritical suburbanite. Damn me. Really, I’m only advocating that the Market and I meet half-way. Less spendy, organic, specialty items, and more basics with a few real money makers thrown in for good measure that I just can’t refuse. Seriously, on a Tuesday night when I hate the world and have been sitting in traffic, I would love to walk up to my neighborhood market, buy a fat steak or hamburger or hotdogs (but not organic, grain feed, massaged beef steak, vegan hot dogs, etc.), some regular potatoes, a little asparagus or broccoli, and an expensive bottle of wine (or two!) and some amazing chocolate or a dessert from the deli case. I never felt like that was the case.

    Boo.

  5. Mayorofvaluevillage says:

    Maybe Wally just isn’t cut out to run a grocery store. 2nd time in two years, not a good track record. The current Phinney market seems to be doing just fine.