Marsh to Close 16 Stores in Indiana, Ohio
INDIANAPOLIS -- Marsh Supermarkets, Inc. here said it will shutter 12 of its grocery stores and four convenience stores throughout Indiana and Ohio by Thanksgiving.
The closings include seven LoBill stores, two Arthur's Fresh Markets, two O'Malia stores, four Village Pantry stores, and one Marsh supermarket. The cities that will be affected by the closures include Indianapolis, Winchester, Muncie, and Kokomo.
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The company also said it will make layoffs at its corporate headquarters. It said it took the actions in an effort to improve its financial performance.
"After extensive review, it was determined these stores did not meet our business requirements regarding sales, location and/or future growth potential," said Marsh in a statement. "While it was a difficult decision, the Marsh management team is committed to improving our cash flow and strengthening the company's competitive position in the marketplace."
Marsh said it is actively seeking buyers or tenants for the affected stores, and that it does not know how long the sale process for each location will take.
Frank Lazaran, Marsh's new chairman, c.e.o. and president, met with company associates yesterday, and issued the following statement: "Today's announcement is a difficult but important first step in improving Marsh's profitability. We will continue to develop our strategic plan to move Marsh forward in sales and profitability. We have an incredible team of associates who are dedicated to providing our customers with exceptional service. I am excited about where this company is headed. We are committed to providing our customers with the best service in the most convenient locations. While we regret that this decision will impact several of our associates, we will do everything possible to help them find another position within the company or give them a severance package to ensure a smooth transition for them and their families."
In-store signage will alert customers to the specific closing date for each location, none of which has an in-store pharmacy.
All affected Marsh associates will be offered the opportunity to apply for a transfer to another location or to receive a severance package, the company said.
The stores slated to close include:
Marsh - 936 E. Washington, Winchester
LoBill - 990 Chester Blvd., Richmond
LoBill - 3919 Madison Ave., Indianapolis
LoBill - 1033 Indianapolis, Greencastle
LoBill - 190 Old Farm Village, Danville
LoBill - 1107 N. Arlington Ave., Indianapolis
LoBill - 3737 E. Washington, Indianapolis
LoBill - 395 Martin, Greenville, Ohio
O'Malia - 2342 W. 86th St., Indianapolis
O'Malia - 7405 W. 10th St., Indianapolis
Arthurs - 107 W. Pickwick Drive, Syracuse
Arthurs - 5802 West US 52, New Palestine
Village Pantry, 2005 W. Memorial Drive, Muncie
Village Pantry, 3715 E. Jackson St., Muncie
Village Pantry, 312 N. Phillips, Kokomo
Village Pantry, 4 West Main St., Chesterfield
As for layoffs at its corporate office, the company said "it makes sense" that with fewer stores "we would in turn need to reduce our corporate office staff to a similar extent."
It was expected that all affected corporate associates would be notified of their fate by the end of the day on Thursday, and would be offered severance packages.
The closings include seven LoBill stores, two Arthur's Fresh Markets, two O'Malia stores, four Village Pantry stores, and one Marsh supermarket. The cities that will be affected by the closures include Indianapolis, Winchester, Muncie, and Kokomo.
(Story continues below.)
The company also said it will make layoffs at its corporate headquarters. It said it took the actions in an effort to improve its financial performance.
"After extensive review, it was determined these stores did not meet our business requirements regarding sales, location and/or future growth potential," said Marsh in a statement. "While it was a difficult decision, the Marsh management team is committed to improving our cash flow and strengthening the company's competitive position in the marketplace."
Marsh said it is actively seeking buyers or tenants for the affected stores, and that it does not know how long the sale process for each location will take.
Frank Lazaran, Marsh's new chairman, c.e.o. and president, met with company associates yesterday, and issued the following statement: "Today's announcement is a difficult but important first step in improving Marsh's profitability. We will continue to develop our strategic plan to move Marsh forward in sales and profitability. We have an incredible team of associates who are dedicated to providing our customers with exceptional service. I am excited about where this company is headed. We are committed to providing our customers with the best service in the most convenient locations. While we regret that this decision will impact several of our associates, we will do everything possible to help them find another position within the company or give them a severance package to ensure a smooth transition for them and their families."
In-store signage will alert customers to the specific closing date for each location, none of which has an in-store pharmacy.
All affected Marsh associates will be offered the opportunity to apply for a transfer to another location or to receive a severance package, the company said.
The stores slated to close include:
Marsh - 936 E. Washington, Winchester
LoBill - 990 Chester Blvd., Richmond
LoBill - 3919 Madison Ave., Indianapolis
LoBill - 1033 Indianapolis, Greencastle
LoBill - 190 Old Farm Village, Danville
LoBill - 1107 N. Arlington Ave., Indianapolis
LoBill - 3737 E. Washington, Indianapolis
LoBill - 395 Martin, Greenville, Ohio
O'Malia - 2342 W. 86th St., Indianapolis
O'Malia - 7405 W. 10th St., Indianapolis
Arthurs - 107 W. Pickwick Drive, Syracuse
Arthurs - 5802 West US 52, New Palestine
Village Pantry, 2005 W. Memorial Drive, Muncie
Village Pantry, 3715 E. Jackson St., Muncie
Village Pantry, 312 N. Phillips, Kokomo
Village Pantry, 4 West Main St., Chesterfield
As for layoffs at its corporate office, the company said "it makes sense" that with fewer stores "we would in turn need to reduce our corporate office staff to a similar extent."
It was expected that all affected corporate associates would be notified of their fate by the end of the day on Thursday, and would be offered severance packages.