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.
Americans stepped up their spending at auto dealers, hardware stores and e-commerce outlets as retail sales rebounded in April. Sales fell, however, in general merchandise stores.
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.
A developer wants to build a $20 million office and retail building at the northwest corner of East 86th Street and North Keystone Avenue.
The struggling grocery chain announced the move Thursday morning as it seeks a buyer for all or some of its remaining 44 stores.
The bar and restaurant chain featuring more than 500 brews should open downtown by the end of the year. Meanwhile, Mass Ave Toys is ready to debut its new north-side home.
Sales at Steak n Shake locations open at least 18 months fell 3.3 percent in the first quarter, continuing a slide that began last year.
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.
Plans for the 856-home project, initially pegged at 780 acres, were introduced in August. Even after developer Pulte Homes made major revisions, the Westfield City Council on Monday scuttled the plans.
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 program is believed to the first of its kind in the Midwest, providing graduate-level classes on financial, management and development skills.
The CEO of the retail chain’s new parent company said Sunday that he plans to keep 70 to 75 Gander Mountain stores open, including two or possibly three stores in the Indianapolis area.
The city is considering eliminating the highway’s Corridor Overlay, which prohibits residential use and restricts retail, parking, and building locations and sizes.
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.
The 66-unit development that would encompass an entire block between East Street and Park Avenue in the neighborhood had been sent back to the drawing board several times.
The restaurateur who helped transform the Mass Ave culinary scene plans to branch out with original concepts Rize and Provision this fall in the hotel near Keystone at the Crossing.
A downtown restaurant and bar known for its scantily clad servers has closed, but a new steakhouse and taco joint are getting set to open.
The local developer’s plan for the problematic downtown property calls for 2.7 million square feet of development, including 250 apartments in the first phase, office and retail space, a hotel and public green space.
