MIDDLETON, Wis. -- PDQ Foods Stores Inc., a Wisconsin chain that has operated several convenience stores in the Twin Cities, has sold off or closed all but two of those locations, according to a report by The Minneapolis St. Paul Business Journal.
The newspaper cited a Finance & Commerce report saying that the Middleton, Wis.-based retailer recently sold off stores in Eden Prairie, Anoka and Minnetonka, Minn., and which noted that the chain has sold or is selling several other stores in the east and south metropolitan areas. Also, it has closed on store, the report said.
In deals totaling $3 million, PDQ sold three stores sold to separate buyers, added the report.
PDQ, which for years had 11 locations in Minnesota, now lists just two: Burnsville and St. Paul. The Finance & Commerce story said that retail chains can often run into trouble with far-flung stores that don't have enough scale to make distribution efficient; however, PDQ also operates one store in Tahoma, Calif.
The retailer did not respond to a CSP Daily News request for comment by press time.
Before these deals, PDQ had 45 locations in Wisconsin, Minnesota and California. In 2010, it was sold to its employees under an Employee Stock Ownership Plan (ESOP). With 550 employees, the company is now 100% employee-owned. PDQ founder Sam Jacobsen opened his first store in 1948 under the Tri Dairy name and changed the name to PDQ upon opening his second store in 1962. PDQ has been a family-owned company that has been in business for more than 50 years and currently operates stores primarily in and around Madison, Wis., and Milwaukee.
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