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Amazon.com Defaults on Lease

05/19/2023

Amazon.com Inc. is being sued by Federal Realty Investment Trust LLC alleging technical default on a lease on a store in Willow Grove, PA.  Amazon was due to convert a Barnes and Noble store to an Amazon Fresh supermarket. The company has stalled all expansion in brick-and-mortar stores and formats including Amazon Fresh and Amazon Go. The parent company has yet to define a strategy for retail grocery having apparently abandoned building out the Whole Foods Market banner and closing experimental formats.

 

There is informed speculation that Amazon acquire as many as 500 supermarkets that will be divested if the Kroger merger with Albertsons is approved by the FTC.