Marsh Announces Closures of Remaining Stores, Begins to Liquidate Assets
INDIANAPOLIS, IN – After filing for Chapter 11 bankruptcy in May, and auctioning the majority of its 44 stores and assets to competitors like Kroger, Marsh Supermarkets has finally set a timeline for closing its remaining stores and liquidating the last of the company’s assets.
According to court documents reported on by local ABC affiliate RTV6, the company will close its 18 unsold stores on July 20—at which time these stores, which are currently in the process of liquidating their remaining inventory and assets, will cease their liquidation sales, too.
Assets at the company’s remaining Anderson, Indiana-warehouse will continue to be sold off until July 30. Items being sold include trailers, balers, forklifts, chicken warmers, frozen food cases, grocery carts, rotisseries, and nearly twenty other vehicles.
According to local news source The Republic, Kroger subsidiary Topvalco Inc. and Fresh Encounter Inc. purchased 26 stores altogether—11 “core” stores to the former and 15 to the latter—at auction earlier this month after judges approved an expedited bankruptcy sale plan late in May.
The embattled supermarket chain filed for bankruptcy earlier this year, after attempts at a sale were unsuccessful. The company closed more than twenty stores throughout the first half of 2017, and the July 20 deadline will mark, it seems, the end of a slow process of disintegration for the retailer.
While Fresh Encounter has made clear that they intend to retain Marsh store staff, according to The Republic, Kroger has held a number of job fairs this week to restaff stores purchased from Marsh.
AndNowUKnow will continue to report on this and other important news in the retail space.
