Realtor Shelves Plans for Jimmy's Market

Memphis, Tenn., Lewis & Rasberry Realty has abandoned plans to open Jimmy's Market, a natural foods market that was planned for Midtown in Memphis, according to Memphis Business Journal.

Jimmy's Market, which was supposed to open this winter, will not open due to the cost of the project and the possible impact of natural-foods retailer Whole Foods entering the market with the acquisition of Wild Oats, according to the report.

These two issues "led me to conclude that the risk-reward ratio was insufficient to proceed," Lewis & Rasberry co-owner Jimmy Lewis said.

Wild Oats has one store in Memphis and a total of three in Tennessee.