Marsh stops rent payments on six stores

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cathandler
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Re: Marsh stops rent payments on six stores

Postby cathandler » June 5th, 2017, 4:49 pm

pseudo3d wrote:
cathandler wrote:Plus Supervalu is actively shopping their remaining stores; they intend to exit retailing and focus entirely on distribution.

That is true, but remember that SuperValu still bought some divested Food Lion stores last year.

But are they interested in operating the stores long-term or just looking to beef up their distribution base in the region?

pseudo3d
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Re: Marsh stops rent payments on six stores

Postby pseudo3d » June 5th, 2017, 5:11 pm

cathandler wrote:
pseudo3d wrote:
cathandler wrote:Plus Supervalu is actively shopping their remaining stores; they intend to exit retailing and focus entirely on distribution.

That is true, but remember that SuperValu still bought some divested Food Lion stores last year.

But are they interested in operating the stores long-term or just looking to beef up their distribution base in the region?

It remains to be seen. SuperValu's plan is probably the same as the Food Lion stores...buy it now and sell it later. If Marsh goes now, then so goes an account entirely, and whatever buyers (if any) wouldn't likely be SuperValu customers.

architect
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Re: Marsh stops rent payments on six stores

Postby architect » June 13th, 2017, 7:45 pm

Update on this whole situation: Kroger and Fresh Encounter have collectively purchased 25 of the remaining 44 Marsh locations. It is unclear if all locations will remain operational though, or particularly in Kroger's case, if certain Marsh stores could be used as replacements for nearby Kroger locations.

http://www.supermarketnews.com/retail-financial/kroger-fresh-encounter-win-marsh-sites-auction

storewanderer
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Re: Marsh stops rent payments on six stores

Postby storewanderer » June 13th, 2017, 8:24 pm

So much for Supervalu retaining that supply business.

Also a shock Kroger finally bought stores in a bankruptcy auction...

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Re: Marsh stops rent payments on six stores

Postby pseudo3d » June 14th, 2017, 7:54 am

storewanderer wrote:So much for Supervalu retaining that supply business.


Yeah. I was thinking that SuperValu probably did Fresh Encounter: when SuperValu sold bigg's to Remke back in 2010, they used SuperValu as a supplier, and still do even today even after Remke was purchased by Fresh Encounter back in February. However, looking at the other brands of FE ("Community Markets") they use the Our Family brand, which is SpartanNash. Unless they want to buy the unsold stores for cheap, SuperValu seems to be committed to getting rid of retail entirely... :roll:

cathandler
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Re: Marsh stops rent payments on six stores

Postby cathandler » June 15th, 2017, 3:08 pm

storewanderer wrote:So much for Supervalu retaining that supply business.

Also a shock Kroger finally bought stores in a bankruptcy auction...

Well, Kroger bought Roundy's which was at risk of bankruptcy without a rich uncle to bail them out.

cathandler
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Re: Marsh stops rent payments on six stores

Postby cathandler » June 15th, 2017, 3:10 pm

The other shoe drops - the stores not bought at auction by Kroger and Fresh Encounter will close
http://www.indystar.com/story/money/201 ... 399003001/

pseudo3d
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Re: Marsh stops rent payments on six stores

Postby pseudo3d » June 16th, 2017, 9:39 am

cathandler wrote:
storewanderer wrote:So much for Supervalu retaining that supply business.

Also a shock Kroger finally bought stores in a bankruptcy auction...

Well, Kroger bought Roundy's which was at risk of bankruptcy without a rich uncle to bail them out.

Roundy's did have a #1 position in Milwaukee which was part of Kroger's M.O., though. A better example would be Hiller's of Michigan, which was in financial trouble AND wasn't a new market, much like Marsh.

Bigger question is if Fresh Encounters, which already operates under a number of names (Remke, which they acquired, Community Markets, Chief, Great Scot*, Sack-N-Sav) will keep the Marsh name too.

* not to be confused with Great Scott!, a chain acquired by Kroger in 1990

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Re: Marsh stops rent payments on six stores

Postby SamSpade » July 20th, 2017, 4:58 pm

Today was Marsh's last day of business:
Marsh in the meantime said 18 stores that were not sold at auction would close July 20.


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