Marsh Seeks OK to Sell Stores to Kroger, Fresh Encounter Cos

News>Retail & Financial    Kroger Fresh Encounter win Marsh sites at auction       
    

  stores go for $24M             Jon Springer | Jun 13 2017

News>Retail & Financial Kroger Fresh Encounter win Marsh sites at auction stores go for $24M Jon Springer | Jun 13 2017

Earlier this month, Marsh closed the store on Broadway in Anderson.

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

CVS acquired the Marsh pharmacy accounts and inventory for $38 million.

The paperwork filed for the judge's approval indicates that Marsh is potentially selling 11 "core" stores to the Kroger subsidiary for the amount of $16 million.

The next hearing on the proposed sale is tomorrow in federal bankruptcy court in Delaware.

Fresh Encounter now has 34 stores in OH and in, including Great Scot, Community Markets and Sack n' Save, to 44 stores. The company wants to pay $8 million for the four Marshes left in OH and 11 other in stores.

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.

The other bidder is a corporation called Generative Growth II, which owns Fresh Encounter.

The two companies want the option of opening pharmacies when they rebrand the 26 stores they've offered to buy. As a condition of the deal, the 37 Marsh stores with pharmacies were precluded from operating pharmacies for five years, the newspaper noted, citing a recent bankruptcy court filing.

The deal leaves no buyer for 18 other Marsh stores still open in IN, including ones in and around Indianapolis, Carmel, Lafayette and Kokomo. The deal would result in the sale of 15 stores for $8 million.

Recommended News

  • US Losing in Afghanistan, Defense Secretary Mattis Tells Congress

    US Losing in Afghanistan, Defense Secretary Mattis Tells Congress

    The official also said that the United States estimates there are still several hundred ISIS fighters in eastern Afghanistan. About 5,000 other North Atlantic Treaty Organisation troops are participating in the 28-nation NATO-led mission.
    Jeff Sessions to Face Long-awaited Senate Grilling on Russia Ties, Comey Firing

    Jeff Sessions to Face Long-awaited Senate Grilling on Russia Ties, Comey Firing

    Comey, testifying before the same committee last week, defended his decision to announce the results on his own. Wyden then asked about Sessions' interactions with James Comey , the ex-FBI director fired by President Trump.

    Tillerson: North Korea Releases Cincinnati Student Otto Warmbier

    USA officials appeared to brush aside any speculation of a connection between Rodman's controversial visit and Warmbier's release. He said that he had been offered a auto and membership in a secret society at his school if he brought the political banner home.
  • Theresa May apologises to own MPs for election 'mess'

    The deal also prompted Irish premier Enda Kenny to warn that such an alliance could upset Northern Ireland's fragile peace. May hopes with their backing her Conservative party will again command the majority it lost in last Thursday's election.
    Cosby defense rests without calling the comedian to testify

    Cosby defense rests without calling the comedian to testify

    Next, instructions are expected to be given to the jury, which will decide on the three counts of aggravated indecent assault. He also said he gave Ms Constand three half-tablets of the cold and allergy medicine Benadryl before the "petting" began.

    Sessions to face questions on Russia, Comey

    Chairman, the opportunity to, at least, be able to say publicly I didn't participate in that and know nothing about it. Marco Rubio, R-Fla., asked Sessions whether Trump records his conversations in the White House. "I don't know, Sen".
  • Attorneys general to sue over foreign payments to Trump hotels, sources say

    Shortly after taking office, Trump promised that all profits derived from foreign governments would be donated to the Treasury. Jancek also told The New York Times that Democrats should: "end their efforts to delegitimize his ( Trump's ) presidency".

    European Union and United Kingdom citizens should not fret over Brexit future, Davis says

    The European Union's negotiating team is ready for Britain's exit talks and hopes the agreed timetable, which has a start date of June 19, can hold, a top EU official said.

    Stephen Curry's 2nd NBA championship puts him in rare company

    The Warriors won a league-record 14 consecutive games during this year's playoffs and went 16-1 overall in the postseason. He became the third player to score 25 or more points in their first ten finals games, joining Shaq and Michael Jordan .
  • Chinese insurer reportedly detained amid financial probe

    Chinese insurer reportedly detained amid financial probe

    Anbang denied accusations in April by another magazine, Caixin , that it improperly used payments from policyholders as capital. Anbang has a reputation for unusually aggressive expansion in a Chinese insurance industry dominated by state-owned companies.

    "We are not winning in Afghanistan" - US Defense Secretary Mattis

    He said he had expected the plan in the first 30 to 60 days of the new administration and snapped: "We want a strategy". The official also said that the USA estimates there are still several hundred ISIS fighters in eastern Afghanistan .

    Heinrich: Sessions' testimony shows 'concerted effort' to obstruct investigation

    But Sessions recused himself from the Russian Federation investigation in March after the revelations of the two Kislyak meetings. Losing patience with Sessions filibuster, Harris persisted, pressing into her next question, but Sessions was not finished. "Mr.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.