Marsh Liquidating 29 Stores
Bankrupt Midwestern grocery chain Marsh Supermarkets has begun liquidation sales at 29 of its stores in Indiana and Ohio.
The sales, featuring discounted merchandise, will continue until the inventory is sold, most likely in early July.
The Kroger Co., through its Topvalco Inc. subsidiary, and Fresh Encounter successfully bid on 11 and 15 Marsh locations, respectively, in a June 12 bankruptcy auction.
Liquidation sales began Thursday at the 11 locations being purchased by Kroger and at the 18 other Marsh stores that did not attract a buyer in the auction. Kroger, which has been a fierce competitor of Marsh in the Indiana market, intends to take possession of its stores when the liquidation sales are complete. The stores without a buyer will be closed.
Kroger is paying $16 million for its 11 stores, while Fresh Encounter, part of Generative Growth II LLC, is paying $8 million for its locations.