Marsh incentive plan awards key employees if stores are sold
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.
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.
In 2006, when Sun Capital Partners bought Marsh Supermarkets, the bet looked risky at best.
A divided U.S. Supreme Court has ruled that debt collectors can use bankruptcy proceedings to try to collect liabilities that are so old the statute of limitations has expired.
A federal agency likely will step in and pick up the unfunded-pension tab once Marsh Supermarkets exits Chapter 11 bankruptcy. That's not an unusual situation for companies that have been owned by private equity firm Sun Capital Partners.
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.
Indiana Sports Corp. and Visit Indy officials did their due diligence at the last two NFL drafts in Chicago and Philadelphia and are pondering pitching an outdoor site for the event.
The Indiana Board of Education declined to give the schools one-year waivers to show they could continue to show academic improvement.
After years of sitting empty, the former Shapiro’s Delicatessen building in City Center will have a new tenant by next summer.
Pacers President of Basketball Operations Larry Bird on Monday delivered the city’s bid to host the 2021 NBA All-Star Game to NBA executives in New York City in a specially-themed IndyCar.
The public course, an anchor for the neighborhood bounding West 56th Street in Pike Township, closed in late 2015 after the previous owner defaulted on a $2.4 million bank loan.
The NBA All-Star Game is broadcast to 215 countries and territories in 49 languages, according to NBA officials. In China alone, nearly 40 million people watch the game and another 10 million do so in Europe.
Lucas Oil Stadium, Eagle Creek State Park and the IUPUI Natatorium will host NCAA championship events in 2019 and 2020.
The 3-acre property adjacent to the Carmel Fire Department and Carmel Police Department could accommodate up to 200 condo or townhouse units.
Rundell Ernstberger Associates' design features an interactive fountain and an event lawn accommodating up to 1,500 people. The first proposal, from another architect, was scrapped because it was too expensive.
The bill by Rep. Greg Beumer, R-Modoc, makes it a misdemeanor for store owners to knowingly sell products designed to fraudulently pass drug or alcohol tests.
Year-to-date store closings are already outpacing those of 2008, when the last U.S. recession was raging, according to Credit Suisse Group. About 2,880 closings have been announced so far this year, compared with 1,153 for this period of 2016.
The company dreamed of becoming a major hospitality industry player and saw Grand Park Sports Campus as the place to hit a home run. But there were signs of trouble from the start, and unpaid bills quickly piled up.
The NCAA will consider North Carolina as a host for championship events again after the state rolled back a law that regulated bathroom access for transgender people.
The Indianapolis-based retailer, which has filed for Chapter 11 bankruptcy protection, has filed a plan with the court to close its 132 stores and sell off its remaining merchandise if it can’t find a buyer by April 7.
We encourage the city to be picky in selecting a winning bidder for the Old City Hall, which has been without a permanent use since the Indiana State Museum moved out in 2001.