Bidders for Marsh Still a Secret
Midwest grocery chain Marsh Supermarkets reportedly has "numerous" bidders interested in purchasing the company’s remaining stores as it makes its way through bankruptcy.
The Indianapolis-based retailer has confirmed that there are bidders, but wouldn't say who they are or how many there are, the Muncie (Ind.) Star Press reported.
With the qualifying of bidders underway, the next step in Marsh’s bankruptcy proceedings will be an auction, scheduled for Monday in Delaware bankruptcy court, at which the grocer’s 44 stores will be on the block.
Qualifying bids have been received from numerous bidders," spokesman Tom Mulligan told the Star Press. "The company, its advisors and the creditors committee are evaluating the bids."
After months of closings and reports of other financial woes, Marsh filed for bankruptcy last month. Rumors have since circulated as to who might be interested in acquiring some or all of the beleaguered chain's stores.
Marsh’s bankruptcy filing reportedly lists tens of millions of dollars in debts to creditors, including two employee pension companies, food suppliers and property taxes.
Florida-based Sun Capital Partners has owned Marsh since 2006. The chain operates stores in Indiana and Ohio.