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Whole Foods' Founder Recalls Near-Bankruptcy Flood Struggles

2/24/2026

46 6 Full Breakdown

Summary

Story summary

John Mackey, founder of Whole Foods Market, described in an interview with the Cato Institute’s Free Society magazine how a flood nine months after the opening of the first Whole Foods Market nearly bankrupted the business.
He recounted the struggles of their first store, Safer Way.
He also described the subsequent success of the first Whole Foods Market.
The company recovered and continued operations.

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Story summary

John Mackey, founder of Whole Foods Market, described in an interview with the Cato Institute’s Free Society magazine how a flood nine months after the opening of the first Whole Foods Market nearly bankrupted the business.
He recounted the struggles of their first store, Safer Way.
He also described the subsequent success of the first Whole Foods Market.
The company recovered and continued operations.