Sutton Place Group aims to find a niche.(chief executive officer Mark Ordan plans)(Brief Article)

Food Institute Report, The, April, 2004

Sutton Place Group CEO Mark Ordan's plans to improve the specialty food chain include lowering prices, adding new products and changing the stores' names to Balducci's. Bethesda, MD-based Sutton Place Group operates 11 specialty food markets and six restaurants on the East Coast, including Sutton Place Gourmet, Hay Day Country Farm Market and Balducci's. The Sutton Place and Hay Day names could survive as brand names for products, or in other capacities, reported The Washington Post (Apr. 7).

Following Bear Stearns Merchant Banking's purchase of the Sutton Place Group stores in December, Ordan is charged with the task of finding a niche for Sutton. Part of his task is to pay for improvements previous owners could not afford. So far, he has had two customer...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.