Rather than featuring long, tall aisles like traditional groceries, the new-format stores featured a courtyard in the center with a dozen “boutiques” around the perimeter, each selling a certain category of goods.
In 2006, when Sun Capital Partners bought Marsh Supermarkets, the bet looked risky at best.
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.
Attorneys for the Marsh Supermarkets and Don Marsh have quietly reached a settlement on the final issue: how much each side owes the other for legal fees on claims on which they prevailed. Each had argued since last fall the other owed $1.7 million.
The company and Don Marsh each want the other to pay legal bills that, coincidentally, total about $1.7 million each. They stem from a bitter court battle between the two that concluded in July.
Judge Sarah Evans Barker issued an order allowing Marsh to keep the severance paid by his former company, which attempted to recover the payments from him. The order ends a four-year court battle between the two parties.
Lawyers for Marsh Supermarkets Inc. and its former CEO will meet Monday on the issue of whether Don Marsh should have to repay the roughly $2.1 million in severance he received from the company.
The $2.2 million judgment against Don Marsh for using Marsh Supermarkets, the grocery chain he led for more than 30 years, as a piggy bank to pay for lavish trips and extramarital affairs caps what will surely be a mixed legacy for the once-powerful businessman.
The issue will be decided by Judge Sarah Evans Barker, who presided over a two-week civil trial that saw a federal jury return a $2.2 million judgment against the former CEO of Marsh Supermarkets Inc. late Friday night.
A federal jury returned a $2.2 million judgment against iconic Marsh Supermarkets CEO Don Marsh late Friday, finding that he tapped corporate coffers for personal expenses.
A company lawyer itemized the expenses Marsh Supermarkets believes it is owed during closing arguments Friday. A lawyer for Don Marsh argued that he neither committed fraud nor breached his contract.
The panel of nine will begin closed-door discussions Friday afternoon following closing arguments from attorneys representing Marsh Supermarkets Inc. and the former CEO of the company accused of spending $3.3 million of company funds on personal expenses.
Lawyers for the former CEO of Marsh Supermarkets on Thursday hammered home their claims his expenses were widely accepted in the company as normal business costs, while witness testimony revealed a corporate culture that passed the buck on evaluating those costs.
Lawyers for Don Marsh got their first chance to go on the offensive Wednesday after Marsh Supermarkets Inc. rested its case against the company’s former CEO.
The former Marsh Supermarkets president told jurors: “Every time I used [the plane] I had a time constraint, and my time was valuable to the company.”
Any feelings of satisfaction that Sun Capital Partners executives had after completing the acquisition of Marsh Supermarkets Inc. quickly turned to “shock and surprise,” a managing director of the private-equity firm told jurors Tuesday.
At least twice a month during the year 2000, the pilot told jurors, he ferried Don Marsh to New York City to visit one of his mistresses. Marsh Supermarkets is suing its former CEO in an attempt to recoup more than $3 million in what it claims are personal expenses.
St. Elmo Steakhouse owner Stephen Huse testified that directors had a hard time keeping Don Marsh focused on a potential sale of the company as it teetered toward insolvency.
The former executive of Marsh Supermarkets Inc. said he became so concerned about the company’s deteriorating finances less than a decade ago that he took the desperate step of meeting with bankruptcy lawyers.
The disclosure came during the fourth day of Don Marsh’s civil trial. The locally based supermarket chain is alleging he used company funds to pay more than $3 million in personal expenses.
