A LoPresti & Sons ceases operations
Mar 30, 2009 1:47 PM
Citing unprecedented financial challenges from the economic downturn, A LoPresti & Sons Inc—a family-owned, wholesale foodservice distributor that has been serving northeast Ohio for more than 100 years—is ceasing operations effective immediately, and will liquidate the business.
The company, which has annual revenues of approximately $40 million, serves more than 1,200 customers, primarily restaurants, hotels, caterers, schools, hospitals, and business and industry accounts throughout the region.
A. LoPresti & Sons has 72 employees and has operated out of a 180,000-square foot warehouse in Cleveland, less than a mile from where founder Augustino LoPresti started selling fruits and vegetables from a red pushcart in 1908. While produce has always been the company’s specialty, its product line has expanded over the years to include dairy, groceries, frozen foods, fresh meat, poultry, and paper and cleaning supplies. Local farmers and other local suppliers have represented about one-fourth of the total product offering.
The family will continue the August LoPresti Scholarship Fund, which supports students pursuing any aspect of the hospitality and foodservice fields. Founded 15 years ago in memory of third-generation CEO August LoPresti, the fund has provided more than $30,000 in scholarships to students.
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