Marsh Gets Two Buyers At 26 Stores

Marsh Gets Two Buyers At 26 Stores

Two Ohio-based firms offered to buy more than half of the remaining Marsh grocery stores.

Marsh, a one-time icon of the industry, filed for protection under Chapter 11 of the U.S. Bankruptcy Code in May after closing 19 stores. The company wants to pay $8 million for the four Marshes left in OH and 11 other in stores.

Topvalco, Inc., a subsidiary of Kroger, hopes to assume contracts for the leases of 11 Marsh stores, including the two Zionsville Marsh stores, at 10679 N. Michigan Rd. and 5 Boone Village, and the Fishers Marsh store, at 12520 E. 116th St.

Generative Growth agreed to buy two Indianapolis stores; other IN stores IN Columbus, Elwood, Greensburg, Hartford City, Marion, New Palestine, Pendleton, Richmond and Tipton; and OH stores IN Eaton, Middletown, Troy, and Van Wert. It operates grocery stores under the names Community Markets, Great Scot, Sack n Save, King Saver and Chief Supermarkets. That deal came on the condition that Marsh would wait five years before reopening pharmacies in stores that used to have them. The deal would result in the sale of 15 stores for $8 million. There's no word yet what will happen to the 18 Indiana Marsh stores no one offered to buy.

CVS requested to halt the sale motion "until a date that is no less than three weeks from June 14" to provide the company time to take a look at all legal issues surrounding their previous agreement with Marsh.

The sales require approval by the bankruptcy court and have to overcome an objection from CVS Health.

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