Andronico's market, a high-end grocery store that's been a fixture at Stanford Shopping Center for the past two decades, will close its doors July 24.
The "rough decision" to close the Palo Alto location came as the family-owned business works through a recapitalization with an unnamed equity partner, a spokeswoman said.
Employees said they were told of the closure Friday.
Around opening time Monday morning it appeared to be business as usual, with freshly stocked shelves of bread, cheese and baked goods.
"We're hoping to stabilize and strengthen the company long-term" through the current reorganization, Diane Krebs, the company's operations administrator, said Monday (July 18).
Signs on the store windows touted big discounts through the July 24 closing, and referred customers to the Andronico's in Los Altos's Rancho Shopping Center in the future.
Andronico's was founded in Berkeley in 1929 by Greek immigrant Frank Andronico, and is currently operated by Bill Andronico.
The company has four stores in Berkeley, one in San Francisco, one in San Anselmo and the one in Los Altos.
In 2006, a Danville store was sold and a Walnut Creek location was closed.