Wal-Mart hurt Marsh, but expansion may have, too:
Five years ago, Wal-Mart had about a 2-percent share of the grocery market, according to Morningstar Inc. Today, the $31-billion-in-sales behemoth has 23 percent. Grocery-industry observers say fierce competition from the Arkansas-based company played a big part in the financial decline of Marsh Supermarkets Inc., which announced Nov. 29 that it was considering a sale. They said the onslaught was tough to absorb in a region that already had too many grocery stores for its population. “What went wrong?” asked…