INDIANAPOLIS – There are “numerous” bids for those interested in acquiring Marsh Supermarkets in an auction that began Monday morning, according to the grocery chain.
The official auction of Marsh's assets began at 10 a.m. Monday at a Delaware law firm that represents the embattled grocery store chain, according to court documents obtained by NPR.
“Qualifying bids have been received from numerous bidders," said Thomas Mulligan, a Marsh spokesperson, on Wednesday of last week. "The Company, its advisors and the creditors committee are evaluating the bids."
In early May, Marsh officials filed for Chapter 11 bankruptcy and said the remaining 44 locations could close if the company did not find a buyer.
In the last several months, many stores closed around central Indiana, which the company said was due to poor performance and increased competition.
The auction is for bidders who are considered qualified to operate assets of the company.
No word on how quickly the auction will progress, or when we'll receive word about what was sold.
Nineteen Marsh stores have already closed in 2017.
If all stores close, 2,788 part-time and full-time employees would be laid off, a Marsh spokesperson said.
Marsh is an Indiana staple. The company opened their first location in Muncie in 1931 and their headquarters is located in Indianapolis.
This process is similar to what Indianapolis-based electronics and appliances store hhgregg went through this year. hhgregg couldn't find a buyer, so the company closed dozens of its locations in early April. About 3,700 people lost their jobs.
RELATED | Marsh files for Chapter 11 bankruptcy | Marsh Supermarkets could close all locations if no buyer is found | Marsh to close longtime Indianapolis store at the end of January | Marsh is closing another Indianapolis store at the end of February | Marsh to close two more Indy stores by mid-April; that makes four in 2017 | Greenfield, Indy Marsh stores closing in May | Marsh employees upset about lost jobs, insurance benefits
