Holiday Market sells building, signs long-term lease to stay at Lake Tahoe
SOUTH LAKE TAHOE, Calif. — Holiday Market in South Lake Tahoe is not going anywhere anytime soon.
The market in the Meyers community that conducts business as North State Grocery Inc., who also owns Sav-Mor Foods, reportedly was sold according to a headline Oct. 9 on the Sacramento Business Journal website that said “South Lake Tahoe grocery store sold … ”
Richie Morgan, President/CEO for North State Grocery, told the Tribune Friday morning that the headline was erroneous.
“No, we did not sell the company,” Morgan said. “We sold the building, which was our plan from the start.”
Morgan said the company typically doesn’t own any of the properties where they sell their goods.
There are 15 Holiday Markets and seven Sav-Mor Foods and all but one are located in California.
Morgan said when the company bought the building in the spring of 2018, the plan was to remodel and sell.
The Tribune reported previously that the company was planning to invest $1 million to update the building.
North State Grocery bought the building from Lira’s Supermarket that had been in operation for 17 years.
He said the company updated the building, sold it, and took out a long-term lease to stay in the community.
“We’re there to stay,” Morgan said. “We’re loving it there.”