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

  • Afghan President Ghani gives Taliban ultimatum

    Afghan President Ghani gives Taliban ultimatum

    Afghan President Ashraf Ghani delivers a speech Tuesday at the opening of a peace conference at the presidential palace in Kabul .

    Otto Warmbier's release from North Korea: A timeline

    US officials appeared to brush aside any speculation of a connection between Rodman's controversial visit and Warmbier's release. But efforts to convince North Korea to release the men now held had not been successful until Warmbier's release Tuesday.

    Alvaro Morata agrees to join Manchester United

    Morata's mind may already have been made up as the player 'liked' an Instagram post that appeared to confirm the transfer. This has been a brilliant for Real Madrid who have won many titles.
  • Corbyn looks forward to May's 'coalition of chaos'

    Labour secured 262 MPs at the June 8 General Election , up from the 232 elected in 2015 while Ed Miliband was leader. Urging MPs to maintain "unity and collective discipline", he said Labour must act as a "government in waiting".
    House clears major Veterans Affairs reform bill, sends to White House

    House clears major Veterans Affairs reform bill, sends to White House

    The bill was criticized by American Federation of Government Employees , which represents 700,000 federal workers. The Senate bill also would turn a campaign promise of Trump's into law.
    Heinrich: Sessions' testimony shows 'concerted effort' to obstruct investigation

    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.
  • Deutsche Bank reaches $170 million Euribor-rigging settlement

    Norges Bank acquired a new position in shares of Deutsche Bank AG during the fourth quarter valued at approximately $570,224,000. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Deutsche Bank AG in a research note on Monday, March 6th.

    England may replace Roy with Bairstow for Champions Trophy semi

    Pakistan are also considering changes with coach Mickey Arthur planning to strengthen the middle order. South Africa-born Roy, 26, has made just 51 runs in his past eight one-day worldwide innings.

    Trump worked 'very hard' to get student released

    This morning came word suddenly that the United States had secured his release, but under apparently desperate circumstances. It didn't respond to USA offers to send a high-level envoy to discuss Warmbier and three other Americans held by the North.
  • 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".

    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".

    Golden State Warriors beat Cleveland Cavaliers to win NBA title

    Monday's loss denied the Cavaliers a chance to repeat as champions and for James to get his fourth championship ring. Durant appeared to commit his third foul on the play, but the officials let it go and the game quickly turned.

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.