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Kroger Wins $16 Million Bid for Marsh Stores

Kroger Wins $16 Million Bid for Marsh Stores

Wednesday, June 14th, 2017

In a motion filed Tuesday in the Marsh Supermarkets’ bankruptcy case, at least 11 of Marsh’s 44 stores have been approved to sell to one of Kroger’s subsidiaries, Topvalco Inc, according to source The Star Press.

The source reports that Kroger is positioned to swoop in on the bankrupt chain, which filed for Chapter 11 last month. The paperwork filed for the judge’s approval indicates that Marsh is selling 11 “core” stores to the Kroger subsidiary for the amount of $16 million.

A Marsh storefront. Source: Boone Village

The additional stores up for auction are reportedly being sold to Generative Growth LLC, an Ohio-based company and owner of Fresh Encounter Family of Companies and its retail banners. The deal is resulting in the sale of 15 stores for $8 million.

The remaining stores may be sold in other not yet announced motions.

According to the source, the initial filing didn’t identify which stores would be allocated to the bidders, but the subsequent filing listed details which can be found here

Follow along with Deli Market News as the details continue to unfurl.

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