When Econofoods opened in March 1986, it created a supermarket cluster on Dubuque's West End, joining Save U More and Eagle Country Market. Econofoods is the last of those stores in business, but not for long.

Nash Finch, parent company of Econofoods, announced Monday that the store will close Dec. 31. The pharmacy closes today.

"While we regret that this store does not fit in our future plans, we thank our employees for their efforts and thank the community for their patronage over the years," said Brian Numanville, senior director of research and public relations, in a prepared statement.

Local managers followed orders not to discuss the closure. Numanville did not answer questions from the TH. The number of employees at the Dubuque store is not known.

Nash Finch also announced that it is closing the Ottumwa, Iowa, location, bringing the number of Econofoods stores to 16.

Nash Finch also informed American Trust & Savings Bank that its lease inside the store is terminated effective Dec. 31.

Opened in 1990, American Trust's Econofoods office was Dubuque's first full-service

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supermarket bank.

"We're surprised by this sudden announcement," said Peg Hudson, American Trust senior vice president. "Our first concern is for our clients who have enjoyed banking at the Econofoods office."

In addition to its grocery chains -- Econofoods, Family Thrift Center, AVANZA, Family Fresh Market and Sun Mart -- Nash Finch, based in Minneapolis, provides food distribution services to independent retailers and military commissaries in 36 states, the District of Columbia, Europe, Cuba, Puerto Rico, the Azores and Egypt. It is a Fortune 500 company with annual sales of about $4.7 billion.

The company's third-quarter report, released in early November, showed profits tripled to $21.9 million from $7.7 million due to a gain from a lawsuit settlement, as well as increased military sales.

Revenues increased 15 percent to $1.63 billion from $1.42 billion. Military distribution revenues climbed 63 percent to $637.1 million after Nash Finch bought three military distribution centers earlier this year.

"As we look toward the rest of the year and into 2010, we remain committed to our strategic initiatives, which are centered on adding new food distribution customers, improving the efficiency of our food distribution and military supply chain networks and making our warehouse operations more productive," said Alec Covington, Nash Finch CEO and president, in the summary of the company's third quarter report to investors.