Facing challenges in the retail industry and unable to refinance its debt, supermarket chain Earth Fare Inc. has begun closing its roughly 50 stores, becoming at least the third U.S. grocer in recent weeks to seek a buyer or shut down.

The Asheville, N.C.-based natural and organic goods merchant, which has been backed by private equity firm Oak Hill Capital, said it is trying to sell its assets. But meanwhile it has alerted employees that it is closing its stores and is holding going-out-of-business sales.

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