Court approves Marsh deals to sell 26 grocery stores

Inc. All right

Inc. All right

The supermarket chain said their decision to close their stores "was exclusively the product of the hard competitive environment and in no way reflects on the efforts of the great associates working in these stores".

CVS acquired the Marsh pharmacy accounts and inventory for $38 million. "Earlier this year, Fresh Encounter purchased Remke Markets" 10 stores in the Cincinnati area. The deal hinges on the outcome of a dispute between Marsh and CVS Pharmacies.

Marsh released the winning bidders who will take ownership of 26 Marsh properties across IN and OH, including the two IN Zionsville.

In court documents, Marsh argues that condition doesn't apply to a business that buys those stores, or in a bankruptcy situation generally.

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Generative Growth LLC of Findlay has reportedly agreed to purchase 15 of the stores at a cost of $8 million. Ermal Marsh opened the first Marsh store in 1931 in Muncie, IN.

A Kroger subsidiary made an offer on 11 Marsh stores, including this one in Indianapolis, at Monday's bankruptcy auction.

Gershman Partners and Citimark, the local development team that owns Lockerbie Marketplace on the east side of downtown, want assurances that Fresh Encounter has the financial wherewithal and operational savvy to fully perform under the leases it'll be taking over.

Indianapolis attorney Jim Carlberg, who is representing the landlords, voiced his concerns via telephone during the hearing.

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The two sides told the judge they would attempt to resolve the issue within the next 24 hours and provide an update during a Thursday afternoon status conference. The company wants to pay $8 million for the four Marshes left in OH and 11 other in stores.

And the deal with Kroger and Fresh Encounter isn't sealed yet.

Overall, Marsh received bids from seven parties.

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