Ingles: Three Helene-damaged stores to reopen 2026 and 2027; Swannanoa rebuild filed

Ingles Markets told the Securities and Exchange Commission that three stores damaged by Tropical Storm Helene remain closed and are planned to reopen during 2026 and 2027. The stores affected are in Swannanoa in Buncombe County, Spruce Pine in Mitchell County and Morganton in Burke County, according to the company filing reported by multiple outlets.

Helene swept through western North Carolina on Sept. 27, 2024, causing catastrophic flooding, prolonged power and communications outages, road closures and loss of life. The company’s annual report noted the immediate disruption: “During the first two weeks immediately following the storm, the Company’s headquarters experienced communication loss and some stores remained without power and communication.” The annual report also stated that “Four stores sustained damage that required that they be temporarily closed.”

Financially, Ingles disclosed significant storm-related impacts. For the fiscal year ended Sept. 28, 2024, the company recorded $30.4 million in inventory impairment losses and $4.5 million in losses tied to damaged property and equipment. Ingles reported it spent about $9 million on cleanup and repairs in fiscal 2025 and received $6.2 million in insurance proceeds. Industry reporting earlier in the recovery cited broader revenue effects: Supermarket News reported the company lost between $55 million and $65 million in revenues during the first three weeks after the storm, while Avlwatchdog reported an estimated $14 million in lost sales as of Sept. 28, 2024.

Local progress on rebuilds is uneven. Business North Carolina reported that the Black Mountain News found demolition had begun at the Swannanoa site and that plans filed describe a replacement store of 95,391 square feet, about 45 percent larger than the prior store, with a gas station, other retail space and a dog park. The Morganton store on Carbon City Road was heavily flooded and its interior remains gutted; local reporting shows renovation work started in 2025 but stopped amid unpaid permits and a contractor change. Morganton chief building inspector Mike Fincher said, “We need them back open in our community.” Reporting on Spruce Pine indicates little public information has been released to date.

Operationally, Avlwatchdog reported that Ingles lost power in 80 of its 198 stores and that all stores experienced interruptions to electronic payment systems, forcing cash-only sales for various periods. The company said its distribution center near Asheville returned to full operation within two weeks, and its milk processing plant faced water supply disruptions for about a month. Avlwatchdog also reported a human toll: a distribution center employee, Gabriel Gonzalez, died when floodwaters swept him away.

There are timing discrepancies in public accounts. Trade reporting in February 2025 said the three remaining stores were slated to reopen later that year, while the company’s SEC filing now places reopenings in 2026 and 2027. Ingles’ recent quarterly results show resilience: gross profit of $334.6 million and net income of $28.1 million for Q1 fiscal 2026, up from $301.1 million and $16.6 million a year earlier, and the company’s market value and share performance reflect investor confidence.

For Buncombe County residents, the Swannanoa demolition filing offers a concrete sign of progress but no firm reopening date. Watch local permit records and forthcoming SEC disclosures for store-specific timelines, and expect permitting and contractor filings to drive the pace of work at Morganton and Spruce Pine. Restoring full grocery access and the jobs tied to these stores remains a local economic priority as recovery moves from cleanup to reconstruction.