After a somewhat tumultuous few years, five Gordy’s Markets in Chetek, Barron, Cornell, and Chippewa Falls will be rebranded as Family Fare® Supermarkets under new ownership. The new owners are none other than Nash Finch, subsidiary of SpartanNash, who recently clashed with the retailer after reopening its suit against Gordy’s for failure to pay off its $46 million loan. However, on Friday, March 8, 2019, Chippewa County Judge James Issac soon approved the sale of Gordy’s assets to Nash Finch, once the retailer dropped its counterclaim against Nash Finch and its request for alternative relief.
The five stores were purchased for the price of $15.1 million.
“The stores will be converted to SpartanNash’s Family Fare Supermarkets banner in the near future, with the goal of retaining all store-level associates at the stores,” said Meredith Gremel, Vice President of Corporate Affairs and Communications at Nash Finch. “The new stores will feature many of the banner’s offerings, including the ‘Yes’ loyalty card, Savings Zone, 10/$10 Basket of Values, and much more.”
According to local news source, Barron News-Shield, more details regarding the store layouts, product lines, and community involvement are to be uncovered at a later date.
“SpartanNash is committed to building relationships in the communities it serves and looks forwards to becoming a part of these new communities as well,” Gremel said.
Even though the sale of the these five stores lowers the retailer’s debts by $15.1 million, it still owes more than $31 million to Nash Finch.
Check with us here at Deli Market News for the latest in what’s happening in retail.