Sale of 26 Marsh stores approved by bankruptcy court, remaining 18 stores to close
INDIANAPOLIS, Ind– The sale of 26 Marsh stores was approved Wednesday, according to court filings.
On Tuesday, FOX59 learned two companies won the bidding war: Topvalco and Generative Growth II. Topvalco is a Kroger subsidiary based out of Cincinnati and Generative Growth II is an entity of Ohio-based Fresh Encounter.
A Marsh spokesperson issued this statement:
“The Kroger and Fresh Encounter store transactions were conditionally approved in court today.”
The remaining 18 unsold locations will close, the spokesperson said. Liquidation sales will begin Thursday and continue until stock runs out, most likely in early July.
Topvalco won the right to the leases for the following 11 locations:
- Fishers – 12520 E. 116th St.
- Indianapolis – 227 W. Michigan St.
- Indianapolis – 1435 W. 86th St.
- Muncie – 715. S. Tillotson Ave.
- Muncie – 1500 W. McGalliard
- Bloomington – 1825 Kinser Pike
- Bloomington – 123 S. Kingston Dr.
- Zionsville – 5 Boone Village
- Zionsville – 10679 N. Michigan Rd.
- Brownsburg – 843 E. Main St.
- Greenwood – 2904 S. State Rd. 135
Generative Growth II, LLC, which operates a handful of grocery store chains, agreed to buy 15 additional stores.
Ohio has 3 of the locations, but 12 are in Indiana, including the downtown Indianapolis location:
- Greensburg – 736 W. Main St.
- Richmond – 501 National Rd.
- Indianapolis – 320 N. New Jersey St.
- Indianapolis – 11625 Fox Rd.
- Pendleton – 3015 W. US 36
- Tipton – 899 E. Jefferson
- Elwood – 1515 S. State Rd 37
- Hartford City – 1711 N. Walnut
- Columbus – 3075 E. 25th St.
- Marion – 1013 Forest Ave.
- New Palestine – 5802 W. U.S. 52
Marsh was founded in 1931 by Ermal Marsh and expanded throughout the state and into Ohio. However, the grocery store chain has struggled in recent years in the face of competition from other retailers. As a result, 21 under-performing stores have closed. The company also sold off its pharmacy business. The company filed for Chapter 11 bankruptcy in May.