We are very happy to welcome Ingles Markets, a fellow North Carolina company, to the AMTdirect community.
Robert Ingle opened the first Ingles supermarket in Asheville, North Carolina in 1963. He saw an opportunity to invest in smaller towns and rural communities throughout North and South Carolina that were being underserved by large grocery chains. It was a strategy that proved so successful that expansion into similar communities in Georgia, Tennessee, Alabama and Virginia soon followed. Ingles now operates approximately 200 stores in six southeastern states with annual sales of almost $4 billion.By partnering with AMTdirect, Ingles Markets has found a solution for the new lease accounting standards (FASB Rule 842) that will have such a major impact on retailers and other organizations with a large number of real estate and/or equipment leases. In addition to streamlined compliance with the new mandate, Ingles will enjoy a centralized platform for all lease information, active alerts and notifications to ensure that critical dates are never missed, and sophisticated reporting to bring enhanced insight into portfolio operations.