Court filing: Marsh seeks OK to sell 26 grocery stores


The company went public in 1953, when it operated 16 stores.

The remaining stores may be sold in other not yet announced motions.

A subsidiary of Kroger, Topvalco the apparent successful bidder to purchase 11 stores at a cost of $16 million.

Fresh Encounters bid $8 million on four locations in OH and 11 others around central Indiana.

"Both transactions - the Fresh Encounter and Kroger - were approved conditionally at (Wednesday's) hearing", Marsh Spokesman, Tom Mulligan, said.

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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.

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 Michigan Road store was one of nine stores, titled "H&R entities", to object to the new leases.

The sale also has to overcome an objection from CVS Health. 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.

Kroger and Fresh Encounters have said in court documents that it would proceed with the acquisition only if the restriction is removed.

Meanwhile, Marsh spokeswoman Angela Pruitt says in an email that the 18 unsold stores "will undergo liquidation sales beginning tomorrow [Thursday June 15] and continuing until the inventory is sold, most likely in early July".