The local Agway store at 600 Main St. will continue its operations virtually unchanged by the national company's filing for Chapter 11 bankruptcy.
Michael Uryniak, owner of the local store for the past 10 years, said the effect of the national company's problems will amount to "basically nothing" for his operation.
"Agway, Inc., has no financial control or responsibilities at this location," said Uryniak, who owns the business outright. "If the public has a perception there's a problem, I'll change the name."
Uryniak said his store buys only a tiny percentage of its inventory from the national company, and that that portion is easily replaced from other sources. "Up until a few years ago, we were buying our product from them," Uryniak said in a telephone interview yesterday.
"Now we buy from other places, and now we buy only grain. And I have grain sales reps in here all the time trying to sell me their product," he said.
"The national company's bankruptcy will have very, very little impact," he said. "The effect will range from non-existent to negligible."
"The latest information I have on their grain is that the Agway feed mills are being bought by someone else who will continue to operate them," he said.
"None of the inventory here comes from Agway except a couple thousand dollars worth of feed, and that's a negligible amount," he said. Some products are now made by different companies that still use the Agway name, he said.
"The store's doing very well," he said. That translates, he said, to "just under $1 million annually," and, he added, "this year in spite of the economy we've had a gain in volume in 11 of the 12 months."
"People think Agway is Agway, and that it's all connected and managed under one roof, but that's incorrect," he said.
Uryniak leases the building, formerly a car dealership, from the McMahon family. Uryniak worked for Agway for 19 years before buying the business, at a time when the national company was selling many of its stores to private individuals. He moved the store from its previous location off Cole Avenue by the former Boston & Maine railroad tracks.
Petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code from Agway, Inc. and certain of its subsidiaries were expected to be filed yesterday, Oct. 1, with the U.S. Bankruptcy Court for the Northern District of New York in Utica, N.Y.
Agway, Inc., announced its plans in a press release Monday from Stephen H. Hoevfer, senior five president for public affairs for the Syracuse, N.Y., offices.
Subsidiaries included in the petition are Agway Feed and Nutrition, Agway Agronomy, Seedway, Feed Commodities International, Country Best Produce, CPG Nutrients, Agway CPG Technologies and Agway General Agency.
The company's energy businesses are not included in the Chapter 11 filing.
Agway, Inc. is an agricultural cooperative owned by 69,000 Northeast farmer-members, headquartered in DeWitt, N.Y.
Monday, the company reported a net loss of $98.2 million for the year ended June 30, which includes a net loss of $85.4 million directly related to the sale of discontinued operations, and not, said a spokesman, directly related to the company's ongoing business operations..
If you would like to contribute information on this article, contact us at info@iberkshires.com.
Your Comments
iBerkshires.com welcomes critical, respectful dialogue. Name-calling, personal attacks, libel, slander or foul language is not allowed. All comments are reviewed before posting and will be deleted or edited as necessary.
No Comments
North Adams Restaurant to Closing in Two Weeks
By Breanna SteeleiBerkshires Staff
NORTH ADAMS, Mass. — A downtown restaurant announced on Wednesday that it will be closing.
In a Facebook post, Door Prize stated its last day of service is Saturday, Nov. 14.
"We are not making this decision lightly and wish there was another way forward," read the post by owners Bryan "Swifty" Josephs and Jenny Klowden.
"We feel great pride for our successes and for a wonderful year of serving our community. Now on to the next adventure!"
They also thanked their staff and patrons who enjoyed their food
The restaurant opened over a year ago in Hotel Downstreet after Josephs and Klowden previously had a residence at Massachusetts Museum of Contemporary Art, where they sold some of their signature dishes, as well as working in area restaurants, bringing their food to farmers markets and operating a catering business.
The two named the restaurant after a John Prine song that they danced to at their wedding. Josephs described their fare as European comfort food, with one of their most popular dishes being pierogies.
They also successfully renovated the covered porch outside the restaurant for dining, raising $7,000 through a Kickstarter
While their post did not allude as to why they are closing, iBerkshires has reached out for more answers.
The 90-room hotel has reportedly been sold, with a closing expected by the end of the month. Owner Peregrine Group put the former Holiday Inn up for sale earlier this year after purchasing the property for $4.45 million in 2021. According to reports in The Berkshire Eagle, the cost of renovations to the 55-year-old property put a dent into revenues that limited the hotel's ability to cover obligations.
It's not clear if this has anything to do with the restaurant, which operates as a separate entity.
"We are not looking for a public discourse on our business model or the closure," the Door Prize post states, inviting patrons to personally contact the Josephs or Klowden rather than comment on the posting.
However, preparations for the project are starting now with the removal of trees, placement of utility poles and installation of drainage down Oak Street this fall — dependent on weather.
click for more
Voters sent a strong message on Tuesday, with Democrats flipping seats across the country and easily returning the state's Democratic leadership to office. click for more
In a news release posted on its website tuesday morning, the Northwestern DA said, "prosecutors determined that no criminal conduct occurred," citing Massachusetts General Law Chapter 269, section 17. click for more
