The Fishers-based company would not provide details on the offers, which it is evaluating with creditors. The fate of its 44 remaining stores likely will be determined next week.
Fishers-based Marsh Supermarkets has received offers for at least some of its remaining 44 stores “from numerous bidders,” the company said Wednesday evening, less than two hours after the bid deadline set by bankruptcy court.
The deadline was Monday for the company to identify a so-called stalking horse bidder, which would make an initial offer for the grocer's assets that any other suitor would have to beat. Bidders for the business still could emerge, but time is running out.
The plan, approved by a bankruptcy judge, allows 10 employees to collectively receive up to $1.1 million in bonuses if certain conditions of a sale are met.
Sun Capital Partners has relinquished controlling ownership of Marsh Supermarkets to a limited liability company that plans to sell the assets of remaining stores at auction a month from now, bankruptcy papers show.
The struggling grocery chain announced the move Thursday morning as it seeks a buyer for all or some of its remaining 44 stores.
Kroger said it didn’t plan the event to take advantage of the Marsh closings, but it welcomes the local grocery chain’s former employees. The grocer is looking to fill more than 300 positions.
The supermarket chain told state officials on Monday that it would close 16 stores within the next two months, if it can’t find buyers or business partners. But in fact all of Marsh’s stores will shut their doors if the company comes up empty-handed.
If Marsh’s two downtown stores close, as the struggling grocer has warned could happen within two months, the locations likely would attract interest from rival supermarket operators.
The struggling supermarket chain warned the state Monday that that it is prepared to close the stores—including 11 in the Indianapolis area—within 60 days if it can't find buyer for the company.
The latest announced closings, seven of which are in the Indianapolis area, bring the total number of Marsh grocery stores that are set to shut their doors this month to 19.
State law prohibits grocery stores without pharmacies from selling spirits, prompting Marsh to offer big discounts on its inventory.
The struggling grocery chain told employees Friday morning that it plans to discontinue pharmacy operations and has sold customer prescription files to a national drug store chain.
The three closures include a store involved in a lawsuit filed by a landlord that accuses Marsh of not paying rent at the site.
The Marsh chain continues to downsize amid growing competition. The store on East 86th Street has struggled to attract customers since a Kroger opened across the street in 2010.
Struggling Marsh Supermarkets has stopped paying rent on six Indianapolis stores, a move that might suggest the struggling chain is preparing to close them to shore up finances.
Sun Capital Partners bought Marsh Supermarkets in 2006, rescuing it from potential collpase. But now, more than a decade later, the financial woes have returned.