PORTLAND, Ore. (KOIN) – Monday, April 24 marks the final day for the Food Front Cooperative Grocery store in Northwest Portland. In a letter posted to its website, the 51-year-old co-op announced it is closing for good.
The decision comes after General Manager Michael Balanoff tendered his resignation with the co-op. The Food Front Board of Directors said they supported Balanoff’s decisions, but said Food Front does not have a path forward without a general manager.
The board has decided to step down as soon as a newly elected board is in place.
“In order to assure that all of Food Front’s staff are paid for their work and PTO, the store will close its doors on Monday, April 24th, at 12 noon. Please do fill your baskets one last time before this happens and take the opportunity to thank our loyal staff,” the board wrote in its letter to patrons.
Going forward, the board said it strongly advises members to consider a few options.
First, they said members could reopen the store with new financing and structure the business so that it opens with updated bylaws. They could also consider opening a store that’s completely worker-owned and operated while using member volunteers.
Members could sell the property with an option to lease the building back in order to reopen the store in the same location.
Or, the board said, members could sell the property outright and divide the remaining earnings among themselves.
“This decision has been incredibly difficult and a long time coming. All of us on the Board are part of this community and we will continue to do what we can to support Food Front in its path forward,” the board wrote.
According to minutes from the Food Front Board of Directors meeting on March 21, 2023, the co-op was $444,000 in debt, that’s after the co-op paid down its debt from over $1 million.
Chair Rafael Ortega said reserves have been on a steady decline averaging $12,000 a week.
Food Front Cooperative is located at 2375 NW Thurman St. in Portland. It will close at 12 p.m. Monday.